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:
- 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 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 news||Description||Type of impact|
|1.||Report: Facebook Denies Partnership With Stellar [source: cointelegraph.com]||August 9, 2018||The 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, 2018||Backers 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|
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
|Total amount of funds collected, USD million||1 064||1 747||1 499||926||221.0||312.3|
|Number of companies that completed an ICO1||104||118||79||99||8||12|
|Maximum collected, USD million (ICO name)||133 (Basis (previously Basecoin))||72 (Flashmoni)& 118 (Orbs)|
|68.3 (Cryptosolartech)||100 (Hedera Hashgraph)||134 (TZERO)|
|Average collected funds, USD million||10.2||14.8||19.0||9.3||27.6||26|
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
|Number of ICOs*||Average collected,|
|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|
|August 1-5, 2018||221.0||8||27.6|
|August 6-12, 2018||312.3||12||26|
|Total for 2018***||17 263||683||25.3|
* 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, $ million||Date|
|1||TZERO||Trading & Investing||134||August 6, 2018|
|2||4New||Energy & Utilities||45||August 10, 2018|
|3||Origo Network||Infrastructure||29.86||August 11, 2018|
|4||Usechain||Infrastructure||29.30||August 8, 2018|
|5||DxChain||Content Management||20.50||August 6, 2018|
|6||DREP||Identity & Reputation||19.80||August 6, 2018|
|7||FOAM Protocol||Infrastructure||16.54||August 10, 2018|
|8||Datareum||Data Storage||5.144||August 6, 2018|
|9||Inmediate||Finance||5||August 6, 2018|
|10||Streamity||Finance||4.2||August 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 ICO||Category*||Collected, $ million||Date||Token performance|
|1||TZERO||Trading & Investing||134||August 6, 2018||n/a|
|2||QASH||Trading & Investing||108.2||November 8, 2017||0.53x|
|3||Gold Bits Coin||Trading & Investing||50||May 25, 2018||1.2x|
|4||HybridBlock||Trading & Investing||47.8||August 6, 2018||n/a|
|5||Lendroid||Trading & Investing||47.5||February 20, 2018||0.19x|
|6||Zen Protocol||Trading & Investing||46.4||December 30, 2017||n/a|
|7||MCAP||Trading & Investing||45.2||May 7, 2017||0.005x|
|8||Enigma Catalyst||Trading & Investing||45||September 11, 2017||1.23x|
|9||Loopring||Trading & Investing||45||August 16, 2017||2.16x|
|10||Crypto20||Trading & Investing||38.2||November 30, 2017||0.72x|
* 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
|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 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.