This report covers data on ICO market trends of 2018, with special attention given to the analysis of market movements in August 2018, most notably August 6-12, 2018.

Information as of August 13, 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 have taken place during August 2018, including over the past week (August 6-12, 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, news for the past week (August 6-12, 2018)

Factors and events

(link to source)

Date of newsDescriptionType of impact
1.                    Report: Facebook Denies Partnership With Stellar [source: cointelegraph.com]August 9, 2018The media previously reported that the social network was considering the possibility of creating a payment system.Unfavorable Stellar ⇓
2.                    ICORating’s Report: Investments in ICOs More than Doubled In a Year [source: Coinspeaker]August 9, 2018Backers have started to provide more financing to ICOs, despite the fact that the projects are more often failures. 55% of campaigns in Q2 2018 were unable to collect the required amount.Unfavorable

ICO ⇓

Table 1.2 shows the development trends on the ICO market since the start 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

IndicatorApril

2018

May

2018

June

2018

July

2018

August 1-5,

2018

August 6-12,

2018

Total amount of funds collected, USD million1 0641 7471 499926221.0312.3
Number of companies that completed an ICO11041187999812
Maximum collected, USD million (ICO name)133 (Basis (previously Basecoin))72 (Flashmoni)& 118 (Orbs)

& EOS

575 (TaTa

Tu)

68.3 (Cryptosolartech)100 (Hedera Hashgraph)134 (TZERO)
Average collected funds, USD million10.214.819.09.327.626

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 – August 13, 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.

The data for the previous period have been adjusted to account for the appearance of more complete information on past ICOs. Over the past week (August 6-12, 2018) the amount of funds collected via ICOs equaled $312.3 million. This amount consists of the results of 12 completed ICOs, with the largest amount of funds collected equaling $134 million (TZERO ICO). The average collected funds per ICO project equaled $26 million (see Tables 1.2, 1.3). A total of approximately 25 ICOs were completed last week. However, not all projects indicate the amount of funds collected on their official websites.

Table 1.3. Amount of funds collected and number of ICOs

MonthCollected,

$ million

Number of ICOs*Average collected,

$ million

January 20173.770.53
February35.3113.21
March7.341.82
April115.2186.4
May264.22112.58
June649.53319.68
July719.13619.97
August511.24810.65
September914.26813.44
October949.69110.44
November1 1099112.19
December1 611.98618.74
Total, 20176 890.151413.4
January 20181 6659418
February 20182 6799029.8
March 20187 1497990.5
April 20181 06410410.2
May 20181 74711814.8
June 20181 4997919.0
July 2018925.6999.3
August 1-5, 2018221.0827.6
August 6-12, 2018312.31226
Total for 2018***17 26368325.3

* 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 13, 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 the analyzed period

Table 1.4 shows the ten largest ICOs

Table 1.4. Top 10 ICOs by the amount of funds collected (August 6-12, 2018)*

Name of ICO***Category**Collected, $ millionDate
1TZEROTrading & Investing134August 6, 2018
24NewEnergy & Utilities45August 10, 2018
3Origo NetworkInfrastructure29.86August 11, 2018
4UsechainInfrastructure29.30August 8, 2018
5DxChainContent Management20.50August 6, 2018
6DREPIdentity & Reputation19.80August 6, 2018
7FOAM ProtocolInfrastructure16.54August 10, 2018
8DatareumData Storage5.144August 6, 2018
9InmediateFinance5August 6, 2018
10StreamityFinance4.2August 6, 2018
 Top 10 ICOs*309.3 
 Total funds collected from August 6-12, 2018 (12 ICOs)*312.3 
 Average collected funds 26 

* 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 (August 6-12, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.

Last week’s leader was the TZERO project. According to a publication in Forbes dated August 9, the TZERO project, a subsidiary of Blockstain Overstock.com, collected $134 million. The project began on December 18, 2017, and was developed in accordance with SEC requirements. TZERO is the first alternative trading system for cryptographic tokens that the US Securities and Exchange Commission (SEC) assigns to the category of securities. The goal of fund collection was set at $250 million. However, according to the press release the TZERO project collected $134 million, with GSR Capital to purchase a share in TZERO worth $270 million when the company’s capitalization reaches $1.5 billion.

Pursuant to project data: “TZERO’s DLR software has been designed to make securities lending activities of our licensees compliant, more transparent, and more efficient from both a cost and operational perspective. This can help existing market participants improve their workflow while allowing new types of customers to participate.”

Figure 1.2 presents the ten largest ICOs completed in early August.

Figure 1.2. Top 10 ICOs by the amount of funds collected (August 6-12, 2018)

1.3. Top ICOs in the Trading & Investing category

The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. The TZERO project was among the top 10 largest projects by the amount of funds collected via ICO in the Trading & Investing category (Table 1.5).

Table 1.5. Top 10 ICOs by the amount of funds collected, Trading & Investing category

Name of ICOCategory*Collected, $ millionDateToken performance
1TZEROTrading & Investing134August 6, 2018n/a
2QASHTrading & Investing108.2November 8, 20170.53x
3Gold Bits CoinTrading & Investing50May 25, 20181.2x
4HybridBlockTrading & Investing47.8August 6, 2018n/a
5LendroidTrading & Investing47.5February 20, 20180.19x
6Zen ProtocolTrading & Investing46.4December 30, 2017n/a
7MCAPTrading & Investing45.2May 7, 20170.005x
8Enigma CatalystTrading & Investing45September 11, 20171.23x
9LoopringTrading & Investing45August 16, 20172.16x
10Crypto20Trading & Investing38.2November 30, 20170.72x

* 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.
** The top projects in this category completed in June-August 2018 are highlighted in red.

The leader of the week, the TZERO project, became the leader in the Trading & Investing category.

At present, all projects from the top 10 in this category have a token performance indicator of 0.005x to 2.16x. The most successful exchange listing among the ten presented is the Loopring project, as it has a current token price to token sale price ratio of 2.16x. When considering this indicator, it is important to remember that the Loopring ICO was completed on August 16, 2017, i.e. the 2.16x growth took place over approximately twelve months. Loopring’s current market capitalization exceeds $74 million. The MCAP project has the lowest token performance indicator. Its current market capitalization is estimated at around $215,000.

 Figure 1.3. Top 10 ICOs by the amount of funds collected, Trading & Investing category

During the analyzed period (August 6-12, 2018) at least 12 ICO projects were successfully completed, each of which collected more than $100,000, with the total amount of funds collected equaling more than $310 million. Last week’s leader was the TZERO project, which collected $134 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).

Annex – Glossary

Key termsDefinition
Initial coin offering, ICOA 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)

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 saleAlternative 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 saleSimilar 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 rewardThis 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 rewardThis 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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