Are ICOs Returning?

Initial coin offerings took a hard hit during the prolonged crypto winter that set in last year after the all-time highs of late 2017. According to data compiled by the rating platform Icobench, with a few exceptions, the number of ICOs has been generally decreasing since August 2018, when 321 ICOs were published. A low of 58 coin offerings was reached in February of this year. However, there’s been a slight increase in May, with 88 token sales. It coincided with the latest period of rising crypto prices which started in April.

More than 90% of the ICOs tracked by Icobench have already ended, 6% are ongoing and around 2% are upcoming. The 5,639 coin offerings are from 25 different industries, with the great majority collecting funds to create a new platform or provide products and services related to cryptocurrencies.

With 751 ICOs and $7.5 billion of capital raised, the U.S. is topping the charts. Singapore, U.K., Russia and Estonia are hosting the largest number of ICOs after the United States, while the British Virgin Islands and Switzerland are in the top five by raised funds.

A monthly report published by Icobench in early June shows there’s been a decrease of the total funds raised in ICOs to $230 million and the average funds raised by a project to $7.4 million in comparison with the previous period’s almost $1.2 billion and $29.7 million respectively. At the same time, the share of ICOs that have raised any positive amount of funds remained above the general average. June recorded 31 successful ICOs with a success rate of 28%, an indicator calculated by dividing the ICOs that raised funds by the ICOs which ended.

Initial exchange offerings (IEOs) continue to enjoy rising popularity and over $1 billion were raised through IEOs in May.

The report notes there had been 182 IEOs by the end of June and they have raised a total of $1.597 billion with a success rate of over 60%. Around 90% of the funds have been raised on the top five launchpads, with Coineal leading by number of IEOs and Bitfinex topping the list by raised funds.

Many projects conducting initial coin offerings accept not only fiat money for their tokens but also major cryptocurrencies. If you are new to the crypto space but you are willing to participate in the industry, you may need an easy and secure way to acquire digital assets.

Bitcoin.com offers you the opportunity to purchase bitcoin cash (BCH), bitcoin core (BTC) and other leading coins such as ethereum (ETH), ripple (XRP), litecoin (LTC) and Binance coin (BNB). You can do that using a credit card and without visiting a cryptocurrency exchange.

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Are ICOs Returning?
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