Weekly ICO Market Analysis [July 9-22, 2018]

By July 24, 2018 ICO
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Photo: Unsplash
Photo: Unsplash

Check out our report presenting data on the ICO market fluctuations in 2018, with special attention given to the analysis of movements in July 2018, specifically July 8-22, 2018.

Information as of July 23, 2018

This report was created by:

  • Professor Dmitrii Kornilov, Doctor of Economics, Member of the Russian Academy of Natural Sciences, and Leading Analyst at ICOBox;
  • Dima Zaitsev, PhD in Economics, Head of International Public Relations and Business Analytics Department Chief at ICOBox;

This report presents data on ICO market changes during 2018. Special emphasis has been placed on an analysis of the changes that have taken place during July 2018, including over the past two weeks (July 9-22, 2018).

1. General analysis of the ICO market (by week, month)

1.1. Brief overview of ICO market trends

Table 1.1. Brief ICO market overview, key events, news for the two weeks from July 9-22, 2018

Factors and events

(link to source)

Date of news Description Type of impact
1. The Crypto-Currencies That Die Before They Have Bloomed [source: bbc.com] July 10, 2018 56% of ICOs live for an average of four months and disappear from the market after the completion of their token sale, academics have discovered. Nevertheless, the ICO startup market continues to attract backers. These projects have already collected $14 billion since the start of the year. Unfavorable

ICO ⇓

2. People’s Bank Of China Vice Governor: ‘We Must Remain Vigilant’ and Stop Rogue ICOs [source: Cointelegraph.com] July 10, 2018 The Republic’s authorities intend to adamantly prevent any attempts by organizers of initial coin offerings and crypto traders to attract backers inside the country. The bank once again reiterated that absolutely all operations with digital currencies are banned. Unfavorable

ICO ⇓

3. World’s First Initial ‘Convertible Coin Offering (ICCO)’ Launches in Malta [source: ccn.com] July 12, 2018 Malta is ahead of the curve. A week ago they passed a set of draft laws there to regulate the digital sector, and now they are launching the first ICCO in history. Favorable

ICO ⇑

4. CFTC Wants ICO Investors To Do Their Homework Before Putting Their Money [source: Coinspeaker.com] July 17, 2018 The American financial regulator has reminded users that investments do not come with a guarantee, and has advised ICO backers to do their own homework before putting their hard-earned money into a project. Favorable

ICO ⇑

Table 1.2 shows the development trends on the ICO market since the start of the second quarter of 2018. Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered.

Table 1.2. Aggregated trends and performance indicators of past (completed) ICOs1,2,3

Indicator April

2018

May

2018

June

2018

July 1-8, 2018 July 9-15, 2018 July 16-22,

2018

Total amount of funds collected, USD million 1 064 1 747 1 499 157.1 169.2 211.9
Number of companies that completed an ICO1 104 118 79 18 22 12
Maximum collected, USD million (ICO name) 133 (Basis (previously Basecoin)) 72 (Flashmoni)& 118 (Orbs)

& EOS

575 (TaTaTu) 23.9 (Atlantis Blue Digital) 30 (Sparkster) 68.3 (Cryptosolartech)
Average collected funds, USD million 10.2 14.8 19.0 8.7 7.7 17.7

Note:
1 Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com. For some ICOs information may currently be incomplete (for instance, the amount of funds collected). ICOs that collected less than $100,000 were not considered.
2 Date when data was updated – July 23, 2018.
3 Not including EOS, which collected $4 billion or 7.12 million ETH over the year from June 26, 2017, to June 1, 2018.

Over the previous period (July 9-22, 2018) the amount of funds collected via ICOs equaled $169.2+$211.9=$381.1 million. This amount consists of the results of 22+12=34 successfully completed ICOs, with the largest amount of funds collected equaling $68.3 million (Cryptosolartech ICO) (see Tables 1.2, 1.3).

Table 1.3. Amount of funds collected and number of ICOs

Month Collected,

$ million

Number of ICOs* Average collected,

$ million

January 2017 3.7 7 0.53
February 35.3 11 3.21
March 7.3 4 1.82
April 115.2 18 6.4
May 264.2 21 12.58
June 649.5 33 19.68
July 719.1 36 19.97
August 511.2 48 10.65
September 914.2 68 13.44
October 949.6 91 10.44
November 1 109 91 12.19
December 1 611.9 86 18.74
Total, 2017 6 890.1 514 13.4
January 2018 1 665 94 18
February 2018 2 679 90 29.8
March 2018 7 149 79 90.5
April 2018 1 064 104 10.2
May 2018 1 747 118 14.8
June 2018 1 499 79 19.0
July 1-8, 2018 188.2 22 8.6
July 9-15, 2018 169.2 22 7.7
July 16-22, 2018 211.9 12 17.7
Total, 2018*** 16 373 620 26.4

* Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com.
Information on funds collected is not available for all ICOs (information for last week is tentative and may be adjusted). ICOs that collected less than $100,000 were not considered.
** More than 1,000 ICOs were performed in 2017. However, the data for the 514 largest and most popular ICOs, the data of which can be processed, were considered when calculating the total amount of funds collected during 2017.
*** Including the TON Pre-ICO-1,2 ($1.7 billion) and the Petro ICO ($5 billion). According to the data from the official website of the Petro ICO, Petro sales equaled more than $5 billion, which is equivalent to more than $4 billion euros or $31 billion yuan (http://www.elpetro.gob.ve/#about). However, the data on the amount collected by El Petro from some other sources differ. For example, according to criptomoedasfacil.com, the amount of funds collected cannot exceed $2.3 billion taking into account discounts, the project White Paper indicates $4.387 billion, and other sources mention the $3 billion stated, among others, by the President of Venezuela Nicolas Maduro.
**** Not including EOS, which collected $4 billion or 7.12 million ETH over the year from June 26, 2017, to June 1, 2018.
***** The data for 2018 have been updated (date updated: July 23, 2018).

Table 1.3 shows that the largest amount of funds was collected via ICOs in March 2018, mainly due to the appearance of major ICOs. The highest average collected funds per ICO was also seen in March 2018.

Figure 1.1. Trends in funds collected and number of ICOs since the start of 2017

1.2. Top ICOs during the analyzed period

Table 1.4 shows the ten largest ICOs

Table 1.4. Top 10 ICOs in terms of the amount of funds collected (July 9-22, 2018)*

Name of ICO*** Category** Collected, $ million Date
1 Cryptosolartech Energy & Utilities 68.3 July 20, 2018
2 Sparkster Infrastructure 30 July 9, 2018
3 Nervos (Series А) Infrastructure 28 July 18, 2018
4 TravelBlock Vacationing Through The Blockchain 25.2 July 18, 2018
5 Liquidity Network Infrastructure 23.6 July 19, 2018
6 Slate Events & Entertainment 20 July 20, 2018
7 Bitgoals Gambling & Betting 19 July 15, 2018
8 Mandala Trading & Investing 18 July 14, 2018
9 Nauticus Finance 16.9 July 18, 2018
10 Cruisebit Infrastructure 16 July 10, 2018
Top 10 ICOs* 265
Total funds collected from July 9-22, 2018 (34 ICOs)* 381.1
Average funds collected 11.2

* When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, icodata.io, coinschedule.com and other specialized sources is used.
** The category was established based on expert opinions.
*** Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered. Information may be incomplete for some ICOs (for instance, the amount of funds collected). ICOs that collected less than $100,000 were not considered.

The data for the previous period (July 9-22, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.

The leader of the period was the Cryptosolartech project, which is involved in cryptocurrency mining. This project’s goal is to collect funds for the construction of a photovoltaic electricity power station with a capacity of 45,000 kW, based on the conversion of solar energy. Funding of solar energy could be profitable, provided construction and equipment costs are decreased and the performance of the electrical equipment is improved.

Figure 1.2 presents the ten largest ICOs completed during in early July.

Figure 1.2. Top 10 ICOs by the amount of funds collected (July 9-22, 2018)

1.3. Top ICOs in the Energy & Utilities category

The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. The Cryptosolartech project collected the second most funds via ICO in the Energy & Utilities category (Table 1.5).

Table 1.5. Top 10 ICOs by the amount of funds collected, Energy & Utilities category

Name of ICO Category* Collected, $ million Date Token performance
1 Envion Energy & Utilities 100 January 15, 2018 0.20 x
2 Cryptosolartech Energy & Utilities 68.3 July 20, 2018 n/a
3 Gridplus Energy & Utilities 61.2 November 12, 2017 0.25x
4 4New Energy & Utilities 41.5 March 31, 2018 n/a
5 WePower Energy & Utilities 40 February 1, 2018 0.32x
6 Restart Energy Energy & Utilities 30.0 January 23, 2018 0.26x
7 Electrify.Asia Energy & Utilities 29 February 24, 2018 0.33x
8 Power Ledger Energy & Utilities 26.45 October 6, 2017 3.99x
9 Bittwatt Energy & Utilities 20 June 8, 2018 n/a
10 energiToken Energy & Utilities 15 February 2, 2018 0.10x

* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** The top projects in this category completed in June and July 2018 are highlighted in red.

At present, all projects from the top 10 in this category have a token performance indicator of less than 1x. The most successful exchange listing among the ten presented is the Power Ledger project, as it has a current token price to token sale price ratio of 3.99x. When considering this indicator, it is important to remember that the Power Ledger ICO was completed on October 6, 2017, i.e. the 4x growth took place over approximately eight and a half months. Power Ledger’s current market capitalization exceeds $124 million.

Figure 1.3. Top 10 ICOs by the amount of funds collected, Energy & Utilities category

During the analyzed period (July 9-22, 2018) at least 34 ICO projects were successfully completed, each of which collected more than $100,000, with the total amount of funds collected equaling more than $380 million. Last week’s leader was the Cryptosolartech project, which collected $68.3 million. The total amount of funds collected by a number of ICOs failed to reach even $100,000 (the information for some projects is still being finalized).

Annex – Glossary

Key terms Definition
Initial coin offering, ICO A form of collective support of innovative technological projects, a type of presale and attracting of new backers through initial coin offerings (token sales) to future holders in the form of blockchain-based cryptocurrencies and digital assets.
Token sale price

Current token price

Token sale price during the ICO.

Current token price.

Token reward Token performance (current token price ÷ token sale price during the ICO), i.e. the reward per $1 spent on buying tokens.
Token return (see token reward) Performance of funds spent on buying tokens or the ratio of the current token price to the token sale price, i.e. performance of $1 spent on buying tokens during the token sale, if listed on an exchange for USD.
ETH reward – current dollar value of $1 spent on buying tokens during the token sale Alternative performance indicator of funds spent on buying tokens during the ICO or the ratio of the current ETH price to its price at the start of the token sale, i.e. if instead of buying tokens $1 was spent on buying ETH at its rate at the start of the token sale and then it was sold at the current ETH price.
BTC reward– current dollar value of $1 spent on buying tokens during the token sale Similar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying tokens $1 was spent on buying BTC at its price at the start of the token sale and then it was sold at the current BTC price.
Token/ETH reward This ratio describes a market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on ETH.
Token/BTC reward This ratio describes the market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC.

Disclaimer: While the information in this document is believed to be accurate, ICOBox makes no representations or warranties, express or implied, with respect to the completeness or accuracy of the information contained herein. The information presented in this document may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by ICOBox concerning anticipated trends, which assumptions may or may not materialize. No representations are made as to the accuracy of such statements, estimates or projections, and actual performance may be materially different from that set forth in such statements, estimates or projections. Prospective financial results may be affected by fluctuating economic and political conditions and are dependent upon the occurrence of future events that cannot be assured. ICOBox makes no warranty or assurance regarding the achievability of projections or the data, information and assumptions relied upon herein. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. This document is for information purposes only and is not intended as an offer to sell securities, cryptocurrency or tokens, nor does it contain any recommendations or advice on any investments in any particular company or named assets. ICOBox expressly disclaims any and all liability for any representations, expressed or implied, contained in, or omitted from, this material. ICOBox is a provider of SaaS solutions for companies seeking to sell their products via distribution of tokens (ICO). ICOBox does and seeks to do business with companies covered in its research reports and buy any named assets.

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