Please see our report presenting data on the ICO market trends of 2018. Special focus has been placed on the analysis of movements during August 2018.

Information as of September 3, 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 August 2018.

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

1.1 Brief overview of ICO market trends

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

Factors and events

(link to source)

Date of newsDescriptionType of impact
1.                    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 ⇓

2.                    EU Lawmaker Wants to Include ICOs in New Crowdfunding Rules

[source: coindesk.com]

August 13, 2018ICOs in Europe will be regulated by securities law. But not all of them. The limits set forth in the draft provided by a committee of the European Parliament concern the amount of funds collected.Favorable

ICO ⇑

 

3.                    South Korea Wants to Build a Special Cryptocurrency Zone for Companies

[source: usethebitcoin.com]

August 17, 2018If the idea of the authorities of the Jeju Province is approved, it will become the only region where the performance of ICOs is officially permitted.Unfavorable

ICO ⇑

4.                    Crowdfunding Giant Indiegogo Expands into Crypto-Security Tokens with Tokenized Shares of Stock

[source: forbes.com]

August 24, 2018Security tokens are usually backed by tangible assets: the funds or liabilities of the company that issues them, and now by real estate. Users of the popular crowdfunding platform have offered to purchase coins backed by the assets of a major hotel.Favorable

ICO ⇑

5.                    Telegram Starts to Play Nice with Security Agencies Over User Data, But Not in Russia

[source: zdnet.com]

August 29, 2018Telegram may disclose the IP addresses and telephone numbers of users suspected of being involved in terrorism, but only by court order. The encryption keys and access to users’ correspondence will remain closed to the FSB, though.Favorable

ICO ⇑

 

6.                    China Crypto Crackdown Continues by Opening up Illegal ICO Token Sales Reporting Option

[source: bitcoinexchangeguide.com]

August 29, 2018For now, some countries are actively implementing cryptocurrencies and promoting ICOs, while others such as China continue to block everything. The residents of the PRC have even been asked to file complaints against token sales that have not been noticed by the regulators.Unfavorable

ICO ⇓

7.                    Dfinity Secures $120 Million to Fund the Development of Its ‘Global Computer’

[source: Coinspeaker]

August 30, 2018The Dfinity team, which intends to create the “cloud 3.0”, has held a private token sale. The project decided to abandon the idea of holding an ICO.Favorable

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

IndicatorApril

2018

May

2018

June

2018

July

2018

August

2018

Total amount of funds collected, USD million1 0641 7471 499926933.4
Number of companies that completed an ICO1104118799949
Maximum collected, USD million (ICO name)133 (Basis (previously Basecoin))72 (Flashmoni)& 118 (Orbs)

& EOS

575 (TaTa

Tu)

68.3 (Cryptosolartech)134 (tZERO) 102 (Dfinity). 100 (Hedera Hashgraph)
Average collected funds, USD million10.214.819.09.319

Note:
1 This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), icobench.com, tokendata.io, icodrops.com, icodata.io, coinschedule.com, and 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 August 2018 the amount of funds collected via ICOs equaled $933.4 million. This amount consists of the results of 49 successfully completed ICOs, with the largest amount of funds collected equaling $134 million (tZERO project). The average collected funds per ICO project equaled 19 million (see Tables 1.2, 1.3). A total of more than 200 ICOs were completed last month.

Three projects accounted for the lion’s share of the funds collected: the Hedera Hashgraph startup ($100 million), the Dfinity blockchain project (collected $102 million during a private token sale), and tZERO ($134 million).

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 2018933.44919.0
Total for 2018***17 66371224.8

* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), icobench.com, tokendata.io, icodrops.com, icodata.io, coinschedule.com, and other specialized sources.
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.
** 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: September 2, 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 August 2018

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

Name of ICOCategoryCollected, $ million Completed
1tZEROTrading & Investing13416.7%Aug 6, 2018
2DfinityData Storage, Infrastructure10212.7%Aug 29, 2018
3Hedera HashgraphInfrastructure10012.5%Aug 1, 2018
4London Football ExchangeEvents & Entertainment71.38.9%Aug 4, 2018
54NewEnergy & Utilities455.6%Aug 10, 2018
6OSA (Optimal Shelf Availability)Finance405.0%Aug 31, 2018
7TerraGaming & VR324.0%Aug 29, 2018
8Origo NetworkInfrastructure29.93.7%Aug 11, 2018
9UsechainInfrastructure29.33.7%Aug 8, 2018
10ViteEvents & Entertainment283.5%Aug 1, 2018
11GrapevineDrugs & Healthcare26.73.3%Aug 15, 2018
12XinfinityInfrastructure22.82.8%Aug 31, 2018
13Sword CoinFinance20.62.6%Aug 15, 2018
14DxChainContent Management20.52.6%Aug 6, 2018
15DEXONInfrastructure202.5%Aug 27, 2018
16DREPIdentity & Reputation19.82.5%Aug 6, 2018
17BEX tokenTrading & Investing17.22.1%Aug 17, 2018
18FOAM ProtocolInfrastructure16.542.1%Aug 10, 2018
19Loyakk VegaContent Management15.72.0%Aug 31, 2018
20HandshakeInfrastructure10.21.3%Aug 2, 2018
Total, top 20 801.5100%

* The project category is determined by experts.
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), icobench.com, tokendata.io, icodrops.com, icodata.io, coinschedule.com, and other specialized sources.

Table 1.4 shows the top 20 largest ICOs by the amount of funds collected, most of which belong to the Infrastructure and Trading & Investing categories.

August’s leader was the tZERO project, which is a subsidiary of Blockstain Overstock.com. It follows from the information published by Forbes on August 9 that tZERO collected $134 million. The project was launched on December 18, 2017, and was developed to meet 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 was to collect $250 million. However, according to information from the press release, the funds collected by tZERO equaled $134 million. GSR Capital will subsequently purchase a share in the project worth $270 million when the company’s capitalization reaches $1.5 billion.

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

1.3 Top ICOs of last week (August 27-September 2, 2018)

Table 1.5 shows the ten largest ICOs of the week.

Table 1.5. Top 10 ICOs by the amount of funds collected (August 27-September 2, 2018)*

Name of ICO***Category**Collected, $ millionDate
1DfinityData Storage, Infrastructure102August 29, 2018
2OSA (Optimal Shelf Availability)Finance40August 31, 2018
3TerraGaming & VR32August 29, 2018
4XinfinityInfrastructure22.8August 31, 2018
5DEXONInfrastructure20August 27, 2018
6Loyakk VegaContent Management15.7August 31, 2018
7FluxorinArt & Music13.2August 31, 2018
8Tripterium T50Finance12.7August 31, 2018
9GAMBCommerce & Advertising8.2August 31, 2018
10UbcoinCommerce & Advertising8.1August 28, 2018
 Top 10 ICOs*274.8 
 Total funds collected from August 27-September 2, 2018 (22 ICOs)*309 
 Average collected funds 18.2 

* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), icobench.com, tokendata.io, icodrops.com, icodata.io, coinschedule.com, and other specialized sources.
** 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 27-September 2, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized. Over the past week (August 27-September 2, 2018) the amount of funds collected via ICOs equaled $309 million. This amount is made up of the results of 22 successfully completed ICOs.

The leader of the week was the Dfinity project, based in Switzerland. Dfinity is a public cloud-based computing platform that plans to create a “huge Internet computer,” the operation of which will be supported by everyone that joins their protocol. Dfinity is an Ethereum-compatible smart platform that implements several revolutionary ideas to resolve the problems of productivity, scalability, and management of blockchain. The team is convinced that the Dfinity network will be much faster than Ethereum. As reported by the Coinspeaker website, the total amount of funds collected by the project is around $200 million, including $61 million that it collected in February with the participation of the Andreessen Horowitz venture fund and the Polychain Capital hedge fund, and $102 million that it collected in August during its private token sale.

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 (August 27-September 2, 2018)

During August 2018 more than $930 million were collected (made up of the results of 49 successfully completed ICOs). August’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). The total number of ICOs held during the analyzed period was more than 200.

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 rewardToken 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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