Please, see our report covering data on ICO market movements in 2018, with special emphasis placed on the analysis of market changes over August 2018, specifically August 20-26, 2018.
Information as of August 27, 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 20-26, 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 20-26, 2018)
|№||Factors and events|
(link to source)
|Date of news||Description||Type of impact|
|1.||Apple Co-Founder Steve Wozniak is Now a Part of Crypto Startup Equi Capital|
|August 22, 2018||The Apple co-founder admitted that this is the first time that he will participate in such a project, but did not disclose what he will be doing. Wozniak only noted that “he was amazed at the technology behind [cryptocurrency].”||Favorable ICO ⇑|
|2.||Crowdfunding Giant Indiegogo Expands into Crypto-Security Tokens with Tokenized Shares of Stock|
|August 24, 2018||Security 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 ⇑|
Table 1.2 shows the development trends on the ICO market since the start of May 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||1 747||1 499||926||221.0||312.3||94.4||54.8|
|Number of companies that completed an ICO1||118||79||99||8||12||9||6|
|Maximum collected, USD million (ICO name)||72 (Flashmoni)& 118 (Orbs)|
|68.3 (Cryptosolartech)||100 (Hedera Hashgraph)||134 (TZERO)||26.7 (Grapevine)||38.5 (Bytemine) active|
|Average collected funds, USD million||14.8||19.0||9.3||27.6||26||10.5||9.1|
1 This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.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 – August 27, 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 20-26, 2018) the amount of funds collected via ICOs equaled $54.8 million. This amount consists of the results of six completed ICOs, with the largest amount of funds collected equaling around $38.5 million by the Bytemine ICO, which is still in the process of collecting funds. The average collected funds per ICO project equaled $9.1 million (see Tables 1.2, 1.3). A total of more than 35 ICOs were completed last week. However, not all projects indicate the amount of funds collected on their official websites (Table 1.5).
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|
|August 13-19, 2018||84.3||8||10.5|
|August 20-26, 2018||54.8||6||9.1|
|Total for 2018***||17 402||697||25.0|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, and 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 27, 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 201
1.2. Top ICOs during the last week
Table 1.4. Top 6 ICOs by the amount of funds collected (August 20-26, 2018)*
|№||Name of ICO***||Category**||Collected, $ million||Date|
|2||Fondocoin||Finance||6||August 22, 2018|
|3||LifeTask||Recruitment||3.953||August 23, 2018|
|4||DNN Token||Identity & Reputation||2.48||August 22, 2018|
|5||Kryptobits||Finance||2.347||August 24, 2018|
|6||Cryptics Pre-sale||Trading & Investing||1.5||August 26, 2018|
|Top 6 ICOs*||54.8|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), 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 20-26, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.
Last week’s leader was the Bytemine project, which continues to sell tokens as part of its PRE SALE and has already collected around $38.5 million through the sale of more than 217 million BYTM tokens. The owners of Bytemine tokens will receive annual bonus payments based on the quantity of coins they possess.
According to the data of the Bytemine website, this is a widely diversified project aimed at several areas: mining, raw materials (commodities), finance, technology, and banking. Bytemine plans to issue tokens supported by certain goods such as natural gas, copper, oil, gold, and much more.
Figure 1.2 shows the six largest ICOs.
Figure 1.2. Top 6 ICOs by the amount of funds collected (August 20-26, 2018)
The other projects that completed their ICOs last week (August 20-26, 2018), the websites of which do not clearly present the amount of funds collected, are given in Table 1.5.
Table 1.5. Completed ICOs (August 20-26, 2018)
|PROJECT||RECEIVED, million $||START||END DATE|
|1||AcuteCoin||n/a||25 Jul 2018||24 Aug 2018|
|2||APRES||n/a||2 Mar 2018||23 Aug 2018|
|3||BandZ||n/a||2 Jul 2018||20 Aug 2018|
|4||BitChord||n/a||11 Apr 2018||27 Aug 2018|
|5||BitSoft Bay||n/a||30 Jun 2018||26 Aug 2018|
|6||Bitway||n/a||27 May 2018||27 Aug 2018|
|7||Bronix||n/a||26 Jul 2018||26 Aug 2018|
|8||Decentralized News Network||n/a||25 Jul 2018||22 Aug 2018|
|9||ELCoin||n/a||8 Jan 2018||25 Aug 2018|
|10||ENDO Protocol||n/a||20 May 2018||25 Aug 2018|
|11||Fluxorin||n/a||30 Jul 2018||27 Aug 2018|
|12||Fondocoin||n/a||24 Jul 2018||22 Aug 2018|
|13||Gaus||n/a||15 Aug 2018||25 Aug 2018|
|14||GGX||n/a||22 Jun 2018||21 Aug 2018|
|15||Global Pay Net||n/a||24 May 2018||24 Aug 2018|
|16||ICOStart||n/a||22 May 2018||23 Aug 2018|
|17||KitToken||n/a||20 Jul 2018||20 Aug 2018|
|18||Kryptobits||n/a||17 May 2018||24 Aug 2018|
|19||LifeTask||n/a||27 May 2018||23 Aug 2018|
|20||Lovar||n/a||14 Jun 2018||23 Aug 2018|
|21||Menlo One||n/a||16 Jul 2018||20 Aug 2018|
|22||MetaCert Protocol||n/a||25 Jul 2018||25 Aug 2018|
|23||NAM||n/a||20 May 2018||20 Aug 2018|
|24||Officium||n/a||1 Jul 2018||25 Aug 2018|
|25||OkeyDokey||n/a||11 Jul 2018||23 Aug 2018|
|26||Onasander||n/a||22 Jul 2018||23 Aug 2018|
|27||One Game||n/a||20 Jul 2018||20 Aug 2018|
|28||OVATO||n/a||10 May 2018||26 Aug 2018|
|29||Path.Network||n/a||8 Aug 2018||24 Aug 2018|
|30||RedFund||n/a||12 Aug 2018||26 Aug 2018|
|31||Spectrum Network||n/a||30 Jul 2018||20 Aug 2018|
|32||The Digital Reserve||n/a||23 Jul 2018||20 Aug 2018|
|33||Token Changer||n/a||21 Jun 2018||21 Aug 2018|
|34||Trilliant||n/a||11 Aug 2018||25 Aug 2018|
|35||Zeew||n/a||14 May 2018||20 Aug 2018|
|36||OkeyDokey||n/a||11 Jun 2018||23 Aug 2018|
* 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.
It can be assumed that part of the projects from the above list did not collect the minimum required amount (soft cap) and may be scams. Only one project (OkeyDokey) clearly stated on its website that they did not reach their soft cap and announced that they were going to return the collected funds. The crisis in the crypto industry is taking a toll on funds collected via ICOs.
1.3. Top ICOs in the Mining category
The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. The Bytemine project was among the top 10 largest projects by the amount of funds collected via ICO in the Mining category (Table 1.6).
Table 1.6. Top 10 ICOs by the amount of funds collected, Mining category
|№||Name of ICO||Category*||Collected, $ million||Date||Token performance|
|2||Speed Mining Service||Mining||35.6||November 10, 2017||0.07|
|3||Giga Watt||Mining||20.2||July 31, 2017||n/a|
|4||HashGains||Mining||12.63||April 30, 2018||n/a|
|5||Ice Rock Mining||Mining||8.6||May 25, 2018||0.21|
|6||Gramaton Token||Mining||7||July 24, 2018||n/a|
|7||Swiss Alps Mining||Mining||6.02||July 27, 2018||n/a|
|8||Miner One token||Mining||6||May 14, 2018||n/a|
|9||ETHernitymining||Mining||2.5||July 31, 2018||n/a|
|10||HydroMiner||Mining||2.9||November 15, 2017||n/a|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), io, icodrops.com, icodata.io, coinschedule.com, and other specialized sources.
** The top projects in this category completed in July-August 2018 are highlighted in red.
*** Bytemine continues to sell tokens as part of its PRE SALE, and at present has sold more than 217 million BYTM tokens.
Most projects from the top 10 in the Mining category do not currently have data on token performance.
One that does, the Ice Rock Mining project, has a current token price to token sale price of 0.21x, i.e. its price is 79% lower than during the ICO. The current market capitalization of Ice Rock Mining is around $4 million. However, it should be remembered that this project completed its ICO in late May 2018, and during this same period the capitalization of the cryptocurrency market as a whole has fallen by approximately 50%.
The Russian project Russian Mining Center can also be included in the top ten. According to the data of forklog, this project collected a record amount for a Russian ICO: $43.2 million.
Figure 1.3. Top 10 ICOs by the amount of funds collected, Mining category
During the analyzed period (August 20-26, 2018) more than 35 ICO projects were completed, and at least six projects have openly indicated the amount of funds collected on their websites and this amount exceeds $100,000. The total amount of funds collected equaled more than $50 million. Last week’s leader was the Bytemine project. 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). A clear trend is being seen toward a fall in the amount of funds collected via ICOs, which is directly related to the fall in cryptocurrency market capitalization since the start of 2018.
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.|
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