Despite a change in public sentiment toward ICOs and stronger regulatory pressure, ICOs show growth and health for the space in the first half of 2018.
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The market data is provided by ICObazaar.
With the first half of 2018 now past, it is poignant to look back at the last seven months of data on the Initial Coin Offering (ICO) market — an important facet of the cryptocurrency ecosystem. Some predicted that the explosion of ICOs last year — with many failures and even more scams — would lead to a collapse in this area, but the statistics tell a different story.
2018 has been significantly bigger for ICOs than 2017, with the most successful month coming in March. The data over the last seven months indicates that ICOs continue raising huge sums of money, despite many thinking of them as scams. Additionally, the number of projects launching month by month are pretty steady, even showing growth.
Moreover, the stats suggest that the ICOs in 2018 are aiming for big numbers, with the most popular goals being set between $1 million to $10 million, as well as a significant portion at over $50 million.
Understanding the ICO ecosystem’s progression
Statistics show a definite spike in ICOs from April 2017, when $218 million was raised in that month alone. The rest of 2017 — until November, that is — ebbed and flowed, as 584 ICOs were raising $2.52 billion.
The ICO ecosystem — along with the underlying blockchain technology and digital currency tokens — makes up an important facet of the entire cryptocurrency ecosystem.