Please, see our report covering data on ICO market movements in 2018, with special emphasis placed on the analysis of market changes over September 2018, specifically September 3-9, 2018.
Information as of September 10, 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;
- 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 September 2018, including over the past week (September 3-9, 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 (September 3-9, 2018)
|№||Factors and events|
(link to source)
|Date of news||Description||Type of impact|
|1.||Alibabacoin Foundation Announces the End for the ABBC Coin Giveaway Event|
|September 4, 2018||Hurry to complete all required procedures to receive 100 free ABBC coins, as well as 20 ABBC for a referral.||Favorable ICO ⇑|
|2.||European Parliament Members, Blockchain Experts Meet to Discuss ICO Regulation|
|September 5, 2018||If the initiatives are passed, startups will be able to legally conduct their campaigns and collect funds in all 28 member states. This will give a boost to the development of cryptocurrency projects, since they currently have a quasi-legal status and experience difficulties.||Favorable ICO ⇑|
|3.||Belgian Financial Regulator FSMA Repeats Warning Against Crypto Trading Platforms|
|September 5, 2018||The Belgian Financial Services and Markets Authority has been keeping a list of scam projects for quite some time. Before today there were 78 of them, and now another 30 or so will be added.||Unfavorable 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||1 087||78|
|Number of companies that completed an ICO1||118||79||99||55||12|
|Maximum collected, USD million (ICO name)||72 (Flashmoni)& 118 (Orbs)|
|68.3 (Crypto-solartech)||134 (TZERO),|
102 (Dfinity), 100 (Hedera Hashgraph)
|Average collected funds, USD million||14.8||19.0||9.3||19.8||6.5|
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 – September 9, 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 (September 1-9, 2018) the amount of funds collected via ICOs equaled $78 million. This amount consists of the results of 12 ICOs, with the largest amount of funds collected equaling $21 million by the You42 ICO. The average collected funds per ICO project equaled $6.5 million (see Tables 1.2, 1.3). A total of more than 40 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 2018||1 087||55||19.8|
|September 1-9, 2018||78||12||6.5|
|Total for 2018***||17 894||730||24.5|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), tokendata.io, icodrops.com, icodata.io, coinschedule.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: September 9, 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 since the start of the month
Table 1.4. Top 10 ICOs by the amount of funds collected (September 1-9, 2018)*
|№||Name of ICO***||Category**||Collected, $ million||Date|
|1||You42||Content Management||21||September 2, 2018|
|2||Carry Protocol||Data Storage||11.7||September 9, 2018|
|3||Enlte****||Payments||more than 10||September 3, 2018|
|4||ImmVRse||Gaming & VR||9.95||September 7, 2018|
|5||Carbon Grid||Infrastructure||7||September 1, 2018|
|6||IXTUS||Other||6.7||September 2, 2018|
|7||Coti||Infrastructure||3||September 1, 2018|
|8||Mold Coin||Gaming & VR||2.82||September 1, 2018|
|9||Nagricoin||Drugs & Healthcare||1.55||September 1, 2018|
|10||CoinSeason||Trading & Investing||1.5||September 6, 2018|
|Top 10 ICOs*||75.2|
|Total funds collected from September 1-9, 2018 (12 ICOs)*||78|
|Average collected funds||6.5|
* 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 website of the Enlte project indicates that more than 550 million tokens were sold at a price from $0.016 to $0.08
The data for the previous period (September 1-9, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.
Last week’s leader was the You42 project. You42 is a social and entertainment platform oriented on management of content with public access. The You42 platform combines games, music, video, sports and other news, and much more, providing users with everything they want in one centralized social space. You42 unites content creators and users, providing authors with a new way to monetize and rewards and incentives to users. Unlike other social platforms, You42 allows users to rate their own experience based on their own interests and rewards them for listening to, watching, commenting on and/or sharing content using tokens and experience points (i.e. the platform has been built around a cryptocurrency ecosystem where recording labels, studios, artists, authors, and creators of any type can interact with fans and monetize their work to the maximum degree possible).
Figure 1.2 shows the top 10 ICOs.
Figure 1.2. Top 10 ICOs by the amount of funds collected (September 1-9, 2018)
1.3. Top ICOs in the Content Management category
The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. The You42 project was among the 10 largest projects in the Content Management category by the amount of funds collected via ICO (Table 1.5).
Table 1.5. Top 10 ICOs by the amount of funds collected, Content Management category
|№||Name of ICO||Category*||Collected, $ million||Date||Token performance|
|1||Datawallet||Content Management||39.4||February 6, 2018||0.09x|
|2||Ocean Protocol||Content Management||22.1||March 9, 2018||n/a|
|3||Pibble||Content Management||21.3||April 15, 2018||n/a|
|4||You42||Content Management||21||September 2, 2018||n/a|
|5||DxChain||Content Management||20.50||August 6, 2018||0.24x|
|6||Dock||Content Management||20||February 21, 2018||0.23x|
|7||Insights Network||Content Management||17.4||February 8, 2018||0.07x|
|8||Quadrant Protocol||Content Management||16||July 26, 2018||n/a|
|9||DACC||Content Management||13.50||July 7, 2018||0.24x|
|10||COPYTRACK||Content Management||11||February 10, 2018||0.03x|
* 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-September 2018 are highlighted in red.
The presented projects from the top 10 in the Content Management category currently have low token performance indicators ranging from 0.07x to 0.24x.
For example, the DxChain project has a current token price к token sale price of 0.24x, i.e. its price is four times lower than during the ICO. However, it should be remembered that this project completed its ICO in early August 2018, and over this same period the capitalization of the cryptocurrency market as a whole has fallen by approximately 30%.
Figure 1.3. Top 10 ICOs by the amount of funds collected, Content Management category
During the analyzed period (September 1-9, 2018) more than 40 ICO projects were completed, and at least 12 projects have clearly indicated the amount of funds collected on their websites and this amount exceeds $100,000. The total amount of funds collected equaled more than $78 million. Last week’s leader was the You42 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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