What's Up With ICOs in 2018!?

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After dwarfing VC funding in 2017, ICO demand still seems to be continuing high despite a bearish market for the most of 2018, with prices having corrected by more than 70%. 2018 YTD ICO capital raised currently stands at $17.6bn, which is more than 4 times the capital raised through ICOs in 2017. Excluding the EOS’ year-long ICO whose $4B raised was accounted for as Jun ‘18 capital raise and Telegram’s $1.7B ICO in March, the number equates to $11.8bn for 2018 YTD.

ICO Capital Raised (2017 vs 2018YTD)
Source: Coinschedule; ZPX Research

ICO Capital Raised ex-EOS and Telegram (2017 vs 2018YTD)
Source: Coinschedule; ZPX Research

Another important fact is that despite ICOs receiving severe criticism from industry experts as well as regulators for being run as scam projects and raising exorbitant amounts of capital at exaggerated valuations, only one-third of planned ICOs were able to close their funding successfully.

Source: PWC, ZPX Research

Market Update

In the past 24 hours, 8 of the 10 top currencies have pared some of the losses accumulated over the past few days. BTC, at $6,493 gained 2.20% while ETH is mostly flat at $362.68, representing gains of 0.15%. XRP moved against the broader market, falling the most (-3.93%), while Stellar beat ZCash to be the biggest gainer at +7.32%.
Data sourced from OnChainFX.com.

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