Current ICO Market is Bigger Тhan at the Start of 2017: Report
The Initial Coin Offering (ICO) market may coming down from its euphoria, but it’s not down in substance. According to data available on blockchain intelligence platform CoinSchedule, the current ICO market is bigger than it was at the start of 2017. This shows that there is a lot of value that can still be effectively captured by the token sale market.
In January 2019, the token issuers raised a combined total of over $291 million, compared to $82 million in January 2017. The Genesis Crypto Blockchain Investment Bank held the biggest token sale which ended in January 2019 and accounted for more than $142 million raised.
While the January 2019 token sales paled in comparison to January 2018, which saw more than $2 billion raised in token sales, we have to account for the fact that the figures were grossly higher because these were measured right at the peak of the bull market.
Singapore and Switzerland Now the Hottest ICO Destinations
In a recent episode of Anthony Pompliano’s ‘Off the Chain’ podcast, Binance CEO Changpeng Zhao revealed that one of the major reasons for the exchange’s success was the fact that it was not just focused on the US market.
A report on CoinDesk reveals that ICOs are also increasingly looking beyond the US to other friendlier jurisdictions such as Switzerland. The US saw 22 successful token sales in Q1 2018, which is about one-fifth of the total global sales in the same period.
Another key point to note is that while ICOs may be raising less money than before, more token sale projects are now coming in to the market. For example, ICOs in Q4 2018 raised less money than Q3 but the total amount of completed token sales were more.
Singapore and Switzerland were the top two destinations with regards to funds raised in token sales in Q4 2018.
Token Sales Will Evolve and Thrive
In an earlier blog post, we had highlighted some key trends in the token sale market which make us optimistic about this space in the coming year. From an increase in private sales to regulated Security Token Offerings (STOs), token sales will undergo an evolution and offer multiple ways for businesses to raise capital.
The reason we are confident about the token sale market is that it is clearly a more efficient way to raise capital than traditional means and one bear market cycle cannot bring down the entire space. The success of the recent BitTorrent Token (BTT) sale showed that investors still have an appetite for interesting projects. And it underlines the fact that token sales are not going away anywhere, anytime soon!
About ICOMain.io:
ICOMain.io is a full-service solutions provider for all the things needed to complete a successful ICO. Our comprehensive solutions are designed for companies looking to tap into the immense potential of blockchain and launch their ICO in the most efficient manner possible. Our team comprises of seasoned experts who have a wealth of experience in advising ICOs and is complemented by our cutting-edge technology infrastructure. We are dedicated to understanding their clients’ needs who may come from a diverse range of industries. We are also the first sponsor firm for the Gibraltar Blockchain Exchange (GBX) that aims to be a world-leading, institutional-grade token sale platform and cryptocurrency exchange.
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