The ICO market has more than tripled compared to April 2017. This was revealed according to data from CoinSchedule.
February 14, 2019 | AtoZ Markets - The initial coin offering market is 259% bigger now than it was in January 2017 but compared to 2018, it has gotten far smaller. According to crypto analytics website, CoinSchedule, ICOs raised over $82 million in January 2017 which is far less than the over $291 million that was raised in January 2019. At the beginning, the ICO market started modestly and picked momentum toward the end of 2017. The market raised $672 million and $888 million (more than 6 times bigger than the previous months) in June and September 2017 respectively. It surpassed the $1 billion mark in December 2017 when most cryptocurrencies were hitting their all-time-highs. It surged further in the months that followed until it got to $5.8 billion, its highest ever, in June 2018.
After June 2018, there has been a drastic drop in funds raised by ICOs. Between July 2018 and January 2019, the $1 billion was only reached in August 2018. Nevertheless, the current fund raised by ICOs is still bigger than what it used to be in January - April 2017.
Infracstructure ICOs and EOS Lead The Way
Based on their categories, infrastructure ICOs lead the way with 24.1% of the market share. Finance-based ICOs follow with 16.2% and communication-based ICOs have raised 10.1% of the entire market share. According to the data, the top ten ICOs raised over $8.7 billion. EOS top the list with $4.2 raised in about a year while Telegram and Petro followed with $1.7 billion and $735 million respectively in over a year. Furthermore, according to the same website, there are currently 99 ICOs that have just been completed while 9 ICOs are live and 2 upcoming ICOs at the time of this report.
According to a report from Bloomberg, there is an increasing number of ICOs taking place outside the United States where many ICOs used to be launched. The report added that about 20% of the ICO token sales in Q1 2018 was hosted in the U.S. Countries like Singapore and Switzerland also have a big share in the ICO hosting community. With the declining trend and the entire market still trying to recover, the ICO market might not improve in Q1 2019.
Think we missed something? Please share with us in the comment box below.