Enthusiasm for ICOs waning, data suggests
Are initial coin offerings (ICOs) on their way out? According IcoData statistics there are clear signs that the fund raising model is losing appeal.
IcoData points to the declining number of large-scale, high-profile projects during the summer months, particularly August.
As Cryptovest reports, 2018 has seen a marked slowdown in ICOs. In 2017, the ICO trend picked up strongly in June. The autumn of 2017 marked the high-point, while ICOs last year generated in excess of $6.1bn, mostly in the form of Ethereum (ETH) and Bitcoin (BTC).
The first eight months of 2018 were successful for ICO initiatives in general, with more than $6.7bn raised. However, there has been a noticeable drop since.
In August, ICOs brought in just over $191m. The decline in ETH market prices is believed to be one of the key reasons for this.
While there have been 1,052 ICOs so far in 2018 compared to 873 for the whole of 2017, the amounts raised this year have been significantly smaller.