The ICO Winter Has Arrived: Analysis & Data

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ICO Data chart: Activity and dollars to date in January
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Initial coin offerings (ICOs) this week shot past USD 7 billion in total funds raised over all time, but the ICO market crossed that threshold with a cold rush of air.

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Just nine ICOs closed in the past week, according to data from Token Report. Nothing to gnash teeth over, but consider this: Last week’s activity is about a third of the average number of ICOs transacted weekly in the past month. ICO data show January is heading toward about half the number of monthly closed ICOs seen in Q4. And the pipeline for new ICOs opened in Q1 looks thin and hungry.

This is what the ICO winter looks like.

ICO market data from January: deals and dollars raised.

 

ICOs in January are on pace for a down month in terms of funds raised, too. Without Ethereum’s 33 percent month-over-month rise against the dollar (Dec. 19 to Jan. 19, per Coinbase), it might be much worse.

Our ICO analysis at Token Report shows deal sizes changing, too. The pattern in January so far is fewer blockbuster fundraises among the top ICOs, and far fewer tiny deals eking out a million or two (barely enough to cover attorneys’ fees).

As a result, the median ICO raise has grown larger, according to Token Report’s analysis of ICO data so far in the first quarter. The change began in December, when ICOs raised a whopping 1.52 billion USD, with a median fundraise of USD 11 million, nearly twice what ICOs at the median had been raising in November and October. In January, the median fundraise to date is at USD 15.5 million.

Winter isn’t that bad, if you know how to ski.

Here are the top ICOs of the month so far, including the past week.

ProjectTickerDescriptionAmount Raised (USD M)
EnvionEVNMoveable mining units that can plug into any electricity source100.0
NeuromationNTKDatabase generating virtual data for AI companies71.7
CrypteriumCRPTCryptocurrency banking and platform51.7
SwissBorgCHSBSwiss private banking powered by smart contracts51.3
BloomBLTCredit scoring protocol40.0
Trade.ioTIOTrading platform31.169
OkoinOKOINVR platform for adult content distribution24.0
OriginTrailTRACBlockchain infrastructure for supply chains22.5
SelfKeyKEYDigital identity system21.8
Trinity State ChannelsTNCOff-chain scalability solution for NEO20

 

(There have been six that announced they are closed, without announcing an amount raised, so far in January.)

An earlier version of this story left off an ICO that occurred last week and should have been included in the deal and dollar counts chart for the month, as well as in the weekly top 10 table: Trinity State Channel (/TNC) raised USD 20 million in an ICO that closed Jan. 14. It’s been added to the top 10 list at the bottom, replacing Car Vertical (/CV), a car registry database, which raised USD 18.4 million in an ICO that closed Jan. 15. The inclusion of /TNC also increased the median fundraise for January to date up to USD 15.5 million. The chart, the copy and the table have both been updated with this data, which did not change the analysis of the ICO market presented in this article. 

 

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About Galen Moore

Galen is the CEO and founder of Token Report, a financial data service covering digital currencies. He is an award-winning journalist and a financial media startup leader. His expertise is in startups and innovative companies, from consumer tech to biotech. He has studied the effects of accelerators, incubators and other outside influences on early-stage startups. He is on the volunteer board of Egleston Square Main Street, providing small businesses with assistance and advocacy. Galen is an advisor with Subforum, a multi-disciplinary research and design group. He’s a licensed sea captain and a certified instructor of Capoeira Angola, a Brazilian martial art and cultural form.

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1 COMMENT

  1. […] The sale will offer 30 percent of /VIEW, an ERC20 token, at a hard cap of USD 12 million, which would value the project at USD 40 million. The crowdsale follows a seed sale of 10 percent of the tokens, held in October 2017. If the hard cap is hit, Viewly’s raise will come in just shy of the USD 15 million median for January initial coin offerings, according to Token Report data. […]

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