|Aug 09, 2018 06:28 PM||By: John Patrick Mullin | 3705 Views|
The Initial Coin Offering (ICO) market over the last one year has grown in a voluminously with total funds accumulated through ICO had crossed $11 billion in 2018. The number is around ten times more related to the sum of investments from ICO took in Q1 & 2 of 2017. The numbers are shown by a cryptocurrency data firm ICORating in its newest release.
In the second part of 2018, a total of 827 schemes have put $8 billion in funding through ICO related to $3.3 billion in Q1, 2018, an overall increase of 151 percent. According to the article, funds grown by the EOS project accounts for most of this increase as they have received $4 billion in the year-long carried ICO.
Industry section which ruled the ICO market is Financial Services, Blockchain Infrastructure, and Banking & Payment. Financial assistance managed all other industries in both projects and funding wise. And, geographical wise, Europe had the most significant number of the ICO launched through the period at 46 percent of the whole while North Americal is getting the massive part of the funding with 64.67 percent share. The Asia-based project registered 20 percent growth of the investment but a 40 percent reduction in the number of projects begun.
The article also stated that the share of Institutional Capital in the ICO market has improved while local help has shrunk significantly.
The reports suggested those ICO projects which included in offering service and utility tokens were in the lead of failure. The factor which changed the fundraising success is radiation conditions, token type, and metrics showing all ICO’s which managed poorly are not that bad about quality.