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

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

ICO ⇑

 

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

ICO ⇓

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

ICO ⇑

 

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

ICO

 

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

ICO ⇑

 

 

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

Indicator January

2018

February

2018

March

2018

April

2018

May

2018

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
(Pre-ICO-1 TON)
5000
(Petro Pre-Sale)3
133
(Basis (previously Basecoin))
72 (Flashmoni)
Average collected funds, USD million 17.5 29.0 89.6 10.2 14.6

Note:
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

Month Collected,

$ million

Number of ICOs* Average collected,

$ million

January 2017 3.7 7 0.53
February 35.3 11 3.21
March 7.3 4 1.82
April 115.2 18 6.4
May 264.2 21 12.58
June 649.5 33 19.68
July 719.1 36 19.97
August 511.2 48 10.65
September 914.2 68 13.44
October 949.6 91 10.44
November 1 109 91 12.19
December 1 611.9 86 18.74
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
May 2018 1625 111 14.6
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

monthly-ico-market-analysis-may-2018-figure-1-1

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

monthly-ico-market-analysis-may-2018-figure-1-2

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)

monthly-ico-market-analysis-may-2018-figure-1-3

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

Key terms Definition
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.

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