Please, see our report presenting data on ICO market movements in 2018, with strong focus placed on the analysis of market changes over July 2018.

Information as of August 6, 2018

This report was created by:

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 July 2018.

1. General analysis of the ICO market (for July 2018)

1.1 Brief overview of ICO market trends

 

Table 1.1. Brief ICO market overview, key events, and news during July and early August 2018

Factors and events

(link to source)

Date of news Description Type of impact
1.                     Three Reasons Why Malta’s ‘Blockchain Bills’ Are So Significant [source: coininsider.com] July 5, 2018 “First in the world”: three laws regulating the crypto industry have been successfully introduced in Malta. Politicians in the country expect an economic upswing in the new industry. Favorable

ICO ⇑

2.                     World’s First Initial ‘Convertible Coin Offering (ICCO)’ Launches in Malta [source: ccn.com] July 12, 2018 Malta is ahead of the curve. A week ago a set of draft laws were passed to regulate the digital industry, and now they are launching the first ICCO in history. Favorable

ICO ⇑

 

3.                     New Ethereum Blockchain Token Standard ERC777 Could Replace ERC20 [source: ethnews.com] July 25, 2018 The new standard tokens on the Ethereum ERC777 blockchain are in the final stages of development and will be presented to the general public in August. The ERC777 standard is positioned as a more flexible alternative to ERC20. Developers also say it allows for faster, smoother transactions. Favorable

ICO ⇑

 

4.                     Venezuela to Remove Five Zeroes from Ailing Currency [source: reuters.com] July 26, 2018 The Venezuelan authorities plan to replace the national currency with a new monetary unit tied to the El Petro cryptocurrency, which is backed by oil. Favorable

ICO ⇑

5.                     Introducing Telegram Passport [source: telegram.org] July 26, 2018 Passport is an authorization method for services that require personal data for access (for example, financial apps, ICO projects, etc.). Favorable

ICO ⇑

 

6.                     Philippines Securities Regulator Issues Draft of ICO Rules, Requests Feedback From Public [source: cointelegraph.com] August 2, 2018 The Philippines regulator is trying to clear the crypto industry of fraudulent ICOs. The Commission published project rules that must be followed by all organizers of ICO campaigns.

 

Favorable

ICO ⇑

 

7.                     Experts Question the Security of Telegram’s New Passport Service [source: news.bitcoin.com] July 3, 2018 Experts have explained that if a simple password is used in Telegram Passport, hackers will be able to gain access to data in five days. Unfavorable

ICO ⇓

 

Table 1.2 shows the development trends on the ICO market since the beginning of the second quarter 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) ICOs1,2,3

Indicator April

2018

May

2018

June

2018

July

2018

August 1-5,

2018

Total amount of funds collected, USD million 1 064 1 747 1 499 926 147,3
Number of companies that completed an ICO1 104 118 79 99 7
Maximum collected, USD million (ICO name) 133 (Basis (previously Basecoin)) 72 (Flashmoni)& 118 (Orbs)

& EOS

575 (TaTa

Tu)

68.3 (Cryptosolartech) 100

(Hedera Hashgraph)

Average collected funds, USD million 10.2 14.8 19.0 9.3 21

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 Date when data was updated – July 30, 2018.
3 Not including EOS, which collected $4 billion or 7.12 million ETH over the year from June 26, 2017, to June 1, 2018.

During July 2018 the amount of funds collected via ICOs equaled $926 million. This amount consists of the results of 99 successfully completed ICOs, with the largest amount of funds collected equaling $68.3 million (Cryptosolartech ICO). The average collected funds per ICO project equaled 9.3 million (see Tables 1.2, 1.3). A total of more than 200 ICOs were completed last month.

In early August (August 1-5, 2018) more than $147.3 million have been collected, with the blockchain startup Hedera Hashgraph accounting for the lion’s share ($100 million).

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 1 665 94 18
February 2018 2 679 90 29.8
March 2018 7 149 79 90.5
April 2018 1 064 104 10.2
May 2018 1 747 118 14.8
June 2018 1 499 79 19.0
July 2018 926 99 9.3
August 1-5, 2018 147.3 7 21.0
Total for 2018*** 16 877 670 25.2

* 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 the TON Pre-ICO-1,2 ($1.7 billion) and the Petro ICO ($5 billion). 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.
**** Not including EOS, which collected $4 billion or 7.12 million ETH over the year from June 26, 2017, to June 1, 2018.
***** The data for 2018 have been updated (date updated: August 5, 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 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 July 2018

Table 1.4. Top 20 ICOs by the amount of funds collected during July 2018

Name of ICO Category* Collected, $ million % Completed
1 Cryptosolartech Energy & Utilities 68.3 13.8% July 20, 2018
2 Online Commerce & Advertising 47.2 9.5% July 31, 2018
3 Sparkster Infrastructure 30 6.1% July 9, 2018
4 Nervos (Series А) Infrastructure 28 5.7% July 18, 2018
5 TravelBlock Travel & Tourism 25.2 5.1% July 18, 2018
6 Atlantis Blue Digital Commodities 23.9 4.8% July 1, 2018
7 Liquidity Network Infrastructure 23.6 4.8% July 19, 2018
8 FLOGmall Commerce & Advertising 23.2 4.7% July 20, 2018
9 GOToken Travel & Tourism 21 4.2% July 3, 2018
10 Slate Events & Entertainment 20 4.0% July 20, 2018
11 VIRUS Infrastructure 20 4.0% July 3, 2018
12 Ultrain Infrastructure 20 4.0% July 30, 2018
13 Universal Labs Data Storage 19.1 3.9% July 6, 2018
14 Bitgoals Gambling & Betting 19 3.8% July 15, 2018
15 Mandala Trading & Investing 18 3.6% July 14, 2018
16 Staramba Gaming & VR 21.8 4.4% July 25, 2018
17 The Deal Coin Finance 17.6 3.6% July 27, 2018
18 Nauticus Finance 16.9 3.4% July 18, 2018
19 Cruisebit Infrastructure 16 3.2% July 10, 2018
20 Quadrant Protocol Content Management 16 3.2% July 26, 2018
Total, top 20   494.8 100%  

* The project category is determined by experts.
** 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.

Table 1.4 shows the top 20 largest ICOs by the amount of funds collected, most of which belong to the Infrastructure, Energy & Utilities, Commerce & Advertising, Travel & Tourism, Finance, and Trading & Investing categories.

July’s leader was the Cryptosolartech project, which is involved in cryptocurrency mining. This project’s goal is to collect funds for the construction of a photovoltaic electricity power station with a capacity of 45,000 kW, based on the conversion of solar energy. Funding of conversion of solar energy could be profitable, provided construction and equipment costs are lowered and the performance of the electrical equipment is improved.

Figure 1.2. Top 20 ICOs by the amount of funds collected during July 2018

1.3. Top ICOs of last week (July 30-August 5, 2018)

Table 1.5 shows the ten largest ICOs of the week.

Table 1.5. Top 10 ICOs by the amount of funds collected (July 30-August 5, 2018)*

Name of ICO*** Category** Collected, $ million Date
1 Hedera Hashgraph Infrastructure 100 August 1, 2018
2 Online Commerce & Advertising 47.2 July 31, 2018
3 Vite Events & Entertainment 28 August 1, 2018
4 Ultrain Infrastructure 20 July 30, 2018
5 FarmaTrust Supply & Logistics 15 July 31, 2018
6 Kairos Machine Learning & AI 13 July 31, 2018
7 Codex Protocol Infrastructure 12 July 30, 2018
8 Darico Trading & Investing 11.5 July 30, 2018
9 Handshake Infrastructure 10.2 August 2, 2018
10 Radar Relay (Series A) Trading & Investing 10 July 31, 2018
  Top 10 ICOs* 267  
  Total funds collected from July 30-August 5, 2018 (31 ICOs)* 335.3  
  Average collected funds   10.8  

* 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 (July 30-August 5, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized. Over the past week (July 30-August 5, 2018) the amount of funds collected via ICOs equaled $335.3 million. This amount is made up of the results of 31 successfully completed ICOs.

The leader of the week was the Hedera Hashgraph project, which collected $100 million from institutional and other major individual backers. As reported by coindesk, Hedera Hashgraph had already previously collected $18 million through a private token sale, and in the future the startup plans to hold another public ICO (crowdsale) with a hard cap of $20 million for accredited backers.

The Hedera Hashgraph project stipulates the use of hashgraph technology, which is based on a distributed consensus algorithm. Hashgraph technology differs in a number of ways from blockchain technology, and is aimed at solving the following problems: productivity; security; stability; management and compliance with regulatory requirements. “The platform is lightning fast, fair, and secure and, unlike some blockchain-based platforms, doesn’t require compute-heavy proof-of-work. Hedera enables and empowers developers to build an entirely new class of decentralized applications that were never before possible.” In the future the platform will enable the launch of DApps and smart contracts.

Figure 1.3 presents the ten largest ICOs completed during the past week.

Figure 1.3. Top 10 ICOs by the amount of funds collected (July 30-August 5, 2018)

 

1.4. Top ICOs in the Infrastructure category

The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the month and the week. The Hedera Hashgraph project was among the top 10 largest projects by the amount of funds collected in the Infrastructure category (Table 1.6).

Table 1.6. Top 10 ICOs by the amount of funds collected, Infrastructure category

Name of ICO Category* Collected, $ million Date Token performance
1 EOS Infrastructure 4000 June 1, 2018 7.07x
2 TON Pre-ICO-1,2 Infrastructure 1700 March 31, 2018 n/a
3 Hdac Infrastructure 258 December 23, 2017 0.11x
4 Tezos Infrastructure 230.5 July 13, 2017 3.99x
5 Sirin Labs Infrastructure 157.9 December 26, 2017 0.23x
6 Bancor Infrastructure 153 June 12, 2017 0.51x
7 Polkadot Infrastructure 144.4 October 28, 2017 n/a
8 Orbs (ORBIS) Infrastructure 118 May 15, 2018 n/a
9 Status Infrastructure 107.7 June 20, 2017 1.51x
10 Hedera Hashgraph Infrastructure 100 August 1, 2018 n/a

* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** EOS, which collected $4 billion or 7.12 million ETH over the year from June 26, 2017, to June 1, 2018.
*** The top 10 was compiled without The DAO, which collected $168 million (the project failed, see the publication ICO Success and Performance. The Pareto Principle [80/20 Rule])
**** The top ICOs in this category completed in August 2018 are highlighted in red (Hedera Hashgraph).

At present, all projects from the top 10 in this category have a token performance indicator of 0.11x to 7.07x. The most successful ICO by the amount of funds collected and the most successful exchange listing among the ten presented is the EOS project, as its collected funds are estimated to exceed $4 billion and it has a current token price to token sale price ratio of 7.07x. When analyzing this project, it is important to remember the long duration of the EOS ICO (from June 26, 2017, to June 1, 2018) and the fact that the token price was constantly changing during the ICO. Over the first five days of the ICO 200,000,000 EOS tokens were sold, and another 2,000,000 coins were sold every 23 hours thereafter. The token performance indicator for EOS in Table 1.6 was determined based on a calculation in which the token sale price of 1 EOS during the ICO equaled USD 0.99, and the current token price of 1 EOS was equal to USD 7. EOS’s market capitalization currently exceeds $6.3 billion.

 Figure 1.4. Top 10 ICOs by the amount of funds collected, Infrastructure category

During July 2018 more than $926 million were collected (made up of the results of 99 successfully completed ICOs), and over the first five days of August nearly another $150 million has been collected. July’s leader was the Cryptosolartech project, which collected $68.3 million. The completion of a new round of financing of the blockchain startup Hedera Hashgraph, which collected $100 million, was announced on August 1. 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). The total number of ICOs held during the analyzed period was more than 200.

Annex -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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