Please see our report covering data on the ICO market movements over 2018, with special focus placed on the analysis of changes taking place in May 2018, most notably May 28-June 3, 2018.
Information as of June 4, 2018
- Professor Dmitrii Kornilov, Doctor of Economics, Member of the Russian Academy of Natural Sciences, and Leading Analyst at ICOBox;
- Dima Zaitsev, PhD in Economics, Head of International Public Relations and Business Analytics Department Chief at ICOBox;
- Nick Evdokimov, Co-Founder of ICOBox;
- Mike Raitsyn, Vision Director of Snowfox Technology
- Anar Babaev, Co-Founder of ICOBox;
- Daria Generalova, Co-Founder of ICOBox
This report presents data on ICO market changes during 2018. Special emphasis has been placed on an analysis of the changes that took place in May 2018, including over the past week (May 28-June 3, 2018).
1. General analysis of the ICO market (by week, month)
1.1. Brief overview of ICO market trends
Table 1.1. Brief ICO market overview, key events, and news
|№||Factors and events
(link to source)
|Date of news||Description||Type of impact|
|1.||South Korea Aims at ICO Legalization [source: Investorideas]||May 3, 2018||A group of South Korean parliamentarians are working on a draft law to legalize new ICOs, provided that token issuers will adhere to the strict restrictions established by the government.||Favorable
|2.||Buyer Beware: Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud [source: WSJ]||May 17, 2018||On May 17, the Wall Street Journal published the results of its analysis of nearly 1,500 ICOs, the results of which show that 18.6% of them raise “red flags”, and 271 of them were used for what the newspaper characterized as deceptive or even fraudulent tactics||Unfavorable
|3.||Lawmakers Formally Propose Lifting South Korea’s ICO Ban [source: Coingeek]||May 29, 2018||The National Assembly criticized the initiative, accusing officials of neglecting their duties in the blockchain sector, and recommending that measures to protect investors on the cryptocurrency market be developed.||Favorable
|4.||McAfee Coin: John McAfee, To Launch His ‘Very Own’ Crypto Coin [source: Globalcoinreport]||May 30, 2018||John McAfee has announced that he will issue his own cryptocurrency — McAfee Coin. The businessman plans to make it a fiat currency underpinned by cryptocurrencies.||Uncertain
|5.||A Blockchain Start-Up Just Raised $4 Billion Without a Live Product [source: CNBC]||May 31, 2018||The Cayman Island startup Block.one is approaching the $4 billion mark during its ICO. The offering, which was launched in June 2017, could become the largest in the world. The previous record belongs to Telegram, which collected $1.7 billion through private sales.||Favorable
Table 1.2 shows the development trends on the ICO market since the beginning of 2018. Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered.
Table 1.2. Aggregated trends and performance indicators of past (completed) ICOs1,2
|Total amount of funds collected, USD million||1 666||2696||7167||1076||1625|
|Number of companies that completed an ICO1||95||93||80||105||111|
|Maximum collected, USD million (ICO name)||100 (Envion)||850
(Basis (previously Basecoin))
|Average collected funds, USD million||17.5||29.0||89.6||10.2||14.6|
1 Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com. For some ICOs information may currently be incomplete (for instance, the amount of funds collected). ICOs that collected less than $100,000 were not considered.
2 Including the TON Pre-ICO-1,2 and the Petro ICO.
3 According to the data from the official website of the Petro ICO, Petro sales equaled more than $5 billion, which is equivalent to more than $4 billion euros or $31 billion yuan (http://www.elpetro.gob.ve/#about). However, the data on the amount collected by El Petro from some other sources differ. For example, according to criptomoedasfacil.com, the amount of funds collected cannot exceed $2.3 billion taking into account discounts, the project White Paper indicates $4,387 billion, and other sources mention the $3 billion stated, among others, by the President of Venezuela Nicolas Maduro.
4 The data for 2018 have been updated (date updated: June 3, 2018).
During May 2018 the amount of funds collected via ICOs equaled more than $1.6 billion. This amount consists of the results of 111 successfully completed ICOs, with the largest amount of funds collected equaling $72 million (Flashmoni ICO). The average collected funds per ICO project equaled 14.6 million (see Tables 1.2, 1.3).
Table 1.3. Amount of funds collected and number of ICOs
|Number of ICOs*||Average collected,
|Total, 2017||6 890.1||514||13.4|
|January 2018||1 666||95||18|
|February 2018||2 702||95||28.4|
|March 2018||7 214||89||81.1|
|April 2018||1 106||113||9.8|
|June 1-3, 2018||114.1||9||12.7|
|Total for 2018***||14 366.2||500||28.7|
* Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com.
Information on funds collected is not available for all ICOs (information for last week is tentative and may be adjusted). ICOs that collected less than $100,000 were not considered.
** More than 1,000 ICOs were performed in 2017. However, the data for the 514 largest and most popular ICOs, the data of which can be processed, were considered when calculating the total amount of funds collected during 2017.
*** Including TON Pre-ICO-1,2 ($1.7 billion) and the Petro ICO ($5 billion). The data for 2018 have been updated (date updated: June 3, 2018).
Table 1.3 shows that the largest amount of funds was collected via ICOs in March 2018, mainly due to the appearance of major ICOs. The highest amount of average collected funds per ICO was also seen in March 2018.
Figure 1.1. Trends in funds collected and number of ICOs since the start of 2017
1.2. Top ICOs during May 2018
The top 12 ICOs for May in terms of the amount of funds collected are given, since the top three projects all collected approximately the same amount of $35 million.
Table 1.4. Top 12 ICOs in terms of the amount of funds collected during May 2018**
|Name of ICO||Category*||Collected, $ million||%||Completed|
|1||Flashmoni||Commodities||72||13.4%||May 10, 2018|
|2||HYCON||Infrastructure||55||10.2%||May 10, 2018|
|3||Gold Bits Coin||Trading & Investing||50||9.3%||May 25, 2018|
|4||VideoCoin||Events & Entertainment||50||9.3%||May 16, 2018|
|5||DCC||Finance||49||9.1%||May 29, 2018|
|6||Dorado||Supply & Logistics||44.4||8.2%||May 16, 2018|
|7||Plutocoin||Payments||38.9||7.2%||May 29, 2018|
|8||RedBux||Events & Entertainment||38.5||7.2%||May 21, 2018|
|9||PATRON||Social Network||36||6.7%||May 10, 2018|
|10||SHIVOM||Drugs & Healthcare||35||6.5%||May 3, 2018|
|11||Solve.Care||Drugs & Healthcare||35||6.5%||May 1, 2018|
|12||Invacio||Finance||35||6.5%||May 14, 2018|
|Total, top 12||538.8||100%|
* The project category is determined by experts (a total of 30 categories are used).
** When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com, and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com.
*** Not all official websites of ICO projects contain information on the total funds collected
Table 1.4 shows the top 12 largest ICOs in terms of the amount of funds collected, most of which belong to the Commodities, Infrastructure, Trading & Investing, Events & Entertainment and Finance categories.
Figure 1.2. Top 12 ICOs in terms of the amount of funds collected during May 2018
During the analyzed period (May 2018) at least 111 ICO projects were successfully completed, each of which collected more than $100,000, with the total amount of funds collected exceeding $1.6 billion. Last month’s leader was the Flashmoni project, which collected $72 million. As mentioned earlier, Flashmoni is a project aimed at expanding the possibilities to use cryptocurrencies as a means of payment (in this respect, the project is similar to many other projects from the Payment category), but this project plans to improve the level of stability of financial funds by pegging each unit of the cryptocurrency to physical gold.
A watershed event that took place in financing of blockchain technology in China should also be noted. The total amount of financing of Qulian Technology (Fun Chain Technology) from the Shanghai-based finance company Xinhu Zhongbao will exceed 1.5 billion yuan (around $226 million). After the financing is completed, Fun Chain Technology will become the first “quasi-unicorn” enterprise in the blockchain industry. Fun Chain Technology is a leading international blockchain company responsible for the Hyperchain project.
1.3. Top ICOs of last week
Table 1.5 shows the ten largest ICOs of the week.
Table 1.5. Top 10 ICOs in terms of the amount of funds collected (May 28-June 3, 2018)*
|№||Name of ICO***||Category**||Collected, $ million||Date|
|1||DCC||Finance||49||May 29, 2018|
|2||Plutocoin||Payments||38.9||May 29, 2018|
|3||Cardstack||Infrastructure||35||June 1, 2018|
|4||RightMesh||Communications||30||May 31, 2018|
|5||Racoin||Gambling & Betting||27.7||May 28, 2018|
|6||PCHAIN||Infrastructure||26.7||May 28, 2018|
|7||CarBlock||Transport||22.9||May 28, 2018|
|8||Insureum||Finance||20||May 28, 2018|
|9||QuarkChain||Infrastructure||20||June 3, 2018|
|10||DateCoin||Social Network||19||May 30, 2018|
|Top 10 ICOs*||289|
|Total funds collected from May 28-June 3, 2018 (35 ICOs)*||432.2|
|Average funds collected||12.3|
* When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, icodata.io, coinschedule.com and other specialized sources is used.
** The category was established based on expert opinions.
*** Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered. Information may be incomplete for some ICOs (for instance, the amount of funds collected). ICOs that collected less than $100,000 were not considered.
The data for the previous period (May 28-June 3, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.
The leader of the week was the Distributed Credit Chain (DCC) project.
Distributed Credit Chain (DCC) is the first distributed public banking blockchain intended to create a decentralized ecosystem for suppliers of financial services around the world.
Providing a loan with the help of blockchain technology resolves the problem of the high monopolization of the traditional financial industry. Financial operations depend to a large degree on their approval and support by major financial institutions, with these institutions being paid significant transaction fees. This project will allow the actual loan rates to be lowered for borrowers and interest rates for lenders to be increased.
The token sale of the DCC project at the public sale was completed in 20 minutes.
Figure 1.3 presents the ten largest ICOs completed during the past week.
Figure 1.3. Top 10 ICOs in terms of the amount of funds collected (May 28-June 3, 2018)
From among the ICOs completed during the past week, the popular QuarkChain project should be noted. This project has gained quite a few adherents. However, due to the low amount of the hard cap during the private sale ($16 million) and during the public sale ($4 million), as well as due to the complex conditions on participation in the public sale, not many managed to receive project tokens. The details of the sale of QuarkChain tokens.
Over the past week (May 28-June 3, 2018) at least 35 ICO projects were successfully completed, each of which collected more than $100,000, with the total amount of funds collected equaling around $432.2 million. The leader of the week was the DCC project, which collected $49 million.
The total amount of funds collected by a number of ICOs failed to reach even $100,000 (the information for some projects is still being finalized).
Anex – Glossary
|Initial coin offering, ICO||A form of collective support of innovative technological projects, a type of presale and attracting of new backers through initial coin offerings (token sales) to future holders in the form of blockchain-based cryptocurrencies and digital assets.|
|Token sale price
Current token price
|Token sale price during the ICO.
Current token price.
|Token reward||Token performance (current token price ÷ token sale price during the ICO), i.e. the reward per $1 spent on buying tokens.|
|Token return||(see token reward) Performance of funds spent on buying tokens or the ratio of the current token price to the token sale price, i.e. performance of $1 spent on buying tokens during the token sale, if listed on an exchange for USD.|
|ETH reward – current dollar value of $1 spent on buying tokens during the token sale||Alternative performance indicator of funds spent on buying tokens during the ICO or the ratio of the current ETH price to its price at the start of the token sale, i.e. if instead of buying tokens $1 was spent on buying ETH at its rate at the start of the token sale and then it was sold at the current ETH price.|
|BTC reward– current dollar value of $1 spent on buying tokens during the token sale||Similar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying tokens $1 was spent on buying BTC at its price at the start of the token sale and then it was sold at the current BTC price.|
|Token/ETH reward||This ratio describes a market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on ETH.|
|Token/BTC reward||This ratio describes the market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC.|
Disclaimer: While the information in this document is believed to be accurate, ICOBox makes no representations or warranties, express or implied, with respect to the completeness or accuracy of the information contained herein. The information presented in this document may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by ICOBox concerning anticipated trends, which assumptions may or may not materialize. No representations are made as to the accuracy of such statements, estimates or projections, and actual performance may be materially different from that set forth in such statements, estimates or projections. Prospective financial results may be affected by fluctuating economic and political conditions and are dependent upon the occurrence of future events that cannot be assured. ICOBox makes no warranty or assurance regarding the achievability of projections or the data, information and assumptions relied upon herein. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. This document is for information purposes only and is not intended as an offer to sell securities, cryptocurrency or tokens, nor does it contain any recommendations or advice on any investments in any particular company or named assets. ICOBox expressly disclaims any and all liability for any representations, expressed or implied, contained in, or omitted from, this material. ICOBox is a provider of SaaS solutions for companies seeking to sell their products via distribution of tokens (ICO). ICOBox does and seeks to do business with companies covered in its research reports and buy any named assets.