The Good and the Bad: A Brief Overview of the ICO Market in September
Let me break it to you, the last twelve months’ have been fluctuating for ICO’s. We’ve seen two huge peaks but to be totally blunt, September has not been that much better. The total funds raised seem to have flatlined at around 1.5 Billion USD. Quite a steep drop considering there was a bit of a spike back in June. Just check out these stats below:
ICOs around the world | SEPTEMBER 2018
1. USA, 23 ICOs completed, $ 16.4M
2. Singapore, 14 ICOs completed, $82.7M
3. UK, 13 ICOs completed, $9M
4. Russia, 11 ICOs completed, $6.4M
5. Estonia, 10 ICOs completed, $26.4M
Total funds raised by ICOs | SEPTEMBER 2018
1. Singapore, $64,756,300
2. Hong Kong, $49,133,233
3. Germany, $30,860,000
4. Estonia, $26,418,530
5. Switzerland, $23,653,471
6. Samoa, $16,456,000
7. USA, $12,475,680
8. France, $9,917,634
9. South Korea, $9,039,510
10. UK, $9,000,000
Top 10 industries by amount of ICOs | SEPTEMBER 2018
1. Platform, 117 projects
2. Cryptocurrency, 91 projects
3. Business services, 70 projects
4. Smart contract, 53 projects
5. Investment, 46 projects
6. Internet, 38 projects
7. Software, 36 projects
8. Big data, 27 projects
9. Infrastructure, 26 projects
10. AI, 23 projects
Top 10 industries by funds raised with ICOs | SEPTEMBER 2018
1. Platform, $189M
2. Big data, $134M
3. Investment, $122M
4. Business services, $115M
5. Cryptocurrency, $98M
6. AI, $74M
7. Banking, $70M
8. Smart contract, $68M
9. Health, $57M
10. Other, $42M
Interestingly, these disappointing market climate has not deterred those in the blockchain industry in promoting new projects and pushing through with crowdfunding projects to get their ICO’s off the ground.
Unfortunately, investors are a bit lukewarm in their responses compared to the past few months. As a result, capital raised by ICOs in September fell by a whopping 325 million USD. That’s a 46% drop compared to the previous month.
But there’s still good news. There seems to be some stability in other sectors. ICO’s seem to be growing in other parts of the world. By that, we mean that there seems to be a better distribution of ICO projects around the world. With Singapore, The United States, United Kingdom, Russia, and Estonia, leading the pack.
September has been a trying month for cryptocurrencies. While the top 5 ICOs raised more than 35% of the funds invested, none of them were able to achieve their hard cap goal. This is a bit of a far cry from the numbers that were hit in the same month last year.
What is encouraging though that despite the turbulent blockchain technology market we have been experiencing, start-ups are still trying to finance their projects through ICOs. Plus, the continuing popularity of cryptocurrency is also creating a much needed stable distribution of ICOs all over the world. Hopefully, the trend starts going up soon.
Originally published at medium.com on October 16, 2018.