The Initial Coin Offering (ICO) market has more than doubled in a year, but more than half of all ICOs failed to complete their crowd funding, according to a new report.
ICOrating.com has released its second quarterly report, titled ICO Market Research Q2 2018.
$8,359,976,282 is the total funding amount raised by 827 projects over the second quarter, which is a 151 percent increase from the first quarter of 2018. Funds raised by EOS project account for most of this increase, the report says. They have collected $4,197,956,135 for a year-long ICO.
Collectively, ICOs of 2018 have already raised $11,690,981,663 of investments, which is 10 times bigger than the cumulative sum of investments from ICOs in the first two quarters last year.
Despite a significant increase in issuing ICOs, the overall quality of projects has significantly worsened, the research shows. Half of the ICO projects announced in Q2 of 2018 were not able to attract more than $100,000. Comparing the current state of affairs with what was happening a year ago, the percentage of ICOs which could not raise $100,000 has increased from 13 percent in Q1-Q2 2017 to over 50% in Q1-Q2 2018.
Only 7 percent of all announced ICOs were able to be listed on exchanges.
55 percent of all ICOs failed to complete their crowdfunding in Q2.
In Q2, the majority of ICO projects were launched in Europe — 46 percent of all projects.
North America was the leader in terms of funds raised — 64.67 percent of all funding attracted.
by Joji Xavier
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