Weekly ICO Market Analysis [August 13-19, 2018]

By August 21, 2018 ICO
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Photo: PEXELS
Photo: PEXELS

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 August 2018, including over the past week (August 13-19, 2018).

Information as of August 20, 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 August 2018, including over the past week (August 13-19, 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 past week (August 13-19, 2018)

Factors and events

(link to source)

Date of news Description
1. EU Lawmaker Wants to Include ICOs in New Crowdfunding Rules

[source: coindesk.com]

August 13, 2018 ICOs in Europe will be regulated by securities law. But not all of them. The limits set forth in the draft provided by a committee of the European Parliament concern the amount of funds collected.
2. South Korea Wants to Build a Special Cryptocurrency Zone for Companies

[source: usethebitcoin.com]

August 17, 2018 If the idea of the authorities of the Jeju Province is approved, it will become the only region where the performance of ICOs is officially permitted.
3. Petro Will Be an Official Alternate Currency in Venezuela

[source: ccn.com]

August 17, 2018 Starting from August 20 a “new era” will begin in this country, which is suffering through one of the most serious economic crises in its history. At least, President Nicolas Maduro has high hopes that this is so.

Table 1.2 shows the development trends on the ICO market since the start of May 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 May

2018

June

2018

July

2018

August 1-5,

2018

August 6-12,

2018

August 13-19,

2018

Total amount of funds collected, USD million 1 747 1 499 926 221.0 312.3 84.3
Number of companies that completed an ICO1 118 79 99 8 12 8
Maximum collected, USD million (ICO name) 72 (Flashmoni)& 118 (Orbs)

&EOS

575 (TaTa

Tu)

68.3 (Cryptosolartech) 100 (Hedera Hashgraph) 134 (TZERO) 26.7 (Grapevine)

20.6
(Sword Coin)

Average collected funds, USD million 14.8 19.0 9.3 27.6 26 10.5

Note:
1 This report uses the data of ICOBox, tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, and 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 – August 20, 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.

The data for the previous period have been adjusted to account for the appearance of more complete information on past ICOs. Over the past week (August 13-19, 2018) the amount of funds collected via ICOs equaled $84.3 million. This amount consists of the results of 8 completed ICOs, with the largest amount of funds collected equaling $26.7 million (89% of the hard cap) by the Grapevine ICO. The average collected funds per ICO project equaled $10.5 million (see Tables 1.2, 1.3). A total of around 40 ICOs were completed last week. However, not all projects indicate the amount of funds collected on their official websites. This can be explained by the crisis in the industry and the fairly protracted fall in cryptocurrency market capitalization, which has gradually eroded the amount of funds being collected via ICOs. Many projects are unable to collect even the minimum amount (soft cap) announced in their White Papers.

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 2018 925.6 99 9.3
August 1-5, 2018 221.0 8 27.6
August 6-12, 2018 312.3 12 26
August 13-19, 2018 84.3 8 10.5
Total for 2018*** 17 347 691 25.1

* This report uses the data of ICOBox, tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, and 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: August 20, 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 last week

Table 1.4 shows the eight largest ICOs

Table 1.4. Top 8 ICOs by the amount of funds collected (August 13-19, 2018)*

Name of ICO*** Category** Collected, $ million Date
1 Grapevine Drugs & Healthcare 26.7 August 15, 2018
2 Sword Coin Finance 20.6 August 15, 2018
3 BEX token Trading & Investing 17.2 August 17, 2018
4 Ubex Machine Learning & AI 6.9 August 13, 2018
5 Bgogo Trading & Investing 6.6 August 14, 2018
6 NOIA Network Infrastructure 4 August 16, 2018
7 Paygine Finance 1.6 August 17, 2018
8 Global Spy Privacy & Security 0.72 August 15, 2018
Top 8 ICOs* 84.3

* This report uses the data of ICOBox, tokendata.io, icodrops.com, icodata.io, coinschedule.com and other specialized sources.
** 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 (August 13-19, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.

Last week’s leader was the Grapevine project. According to the data from its official website, Grapevine World is a decentralized, borderless ecosystem for the seamless exchange of health data in a standardized, secure manner. The amount of funds collected equaled 89.33% of the hard cap ($30 million), i.e. approximately $26.7 million.

In second place by the amount of funds collected was the Sword Coin project, which will use blockchain to perform functions specific to Fintech trade and app platforms. The use of Sword Coin for trade operations through the Sword Capital platform will give traders an advantage in the form of lower transaction fees and other benefits. The broker software of Sword Capital is already being used in more than 100 countries.

Figure 1.2 presents the eight largest ICOs completed in early August.

Figure 1.2. Top 8 ICOs by the amount of funds collected (August 13-19, 2018)

1.3. Top ICOs in the Drugs & Healthcare category

The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. The Grapevine project was among the top 10 largest projects by the amount of funds collected via ICO in the Drugs & Healthcare category (Table 1.5).

Table 1.5. Top 10 ICOs by the amount of funds collected, Drugs & Healthcare category

Name of ICO Category* Collected, $ million Date Token performance
1 Paragon Drugs & Healthcare 70*** October 15, 2017 0.07x
2 SHIVOM Drugs & Healthcare 35 May 3, 2018 0.21x
3 Solve.Care Drugs & Healthcare 35 May 1, 2018 n/a
4 Budbo Drugs & Healthcare 30 March 5, 2018 0.03х
5 Grapevine Drugs & Healthcare 26.7 August 15, 2018 n/a
6 MedicalChain Drugs & Healthcare 24 February 1, 2018 0.11x
7 MediBloc Drugs & Healthcare 21.3 December 15, 2017 0.5x
8 FarmaTrust Drugs & Healthcare 20.3 July 31, 2018 0.08x
9 Well Drugs & Healthcare 15.96 June 30, 2018 n/a
10 Healthureum Drugs & Healthcare 15.4 April 1, 2018 n/a

* This report uses the data of ICOBox, io, icodrops.com, icodata.io, coinschedule.com and other specialized sources.
** The top projects in this category completed in June-August 2018 are highlighted in red.
*** There are no data on the amount of funds collected on the official website of the leader in the category Paragon, and the data from various sources differs wildly from $6 to $70

At present, all projects from the top 10 in this category have a token performance indicator of 0.03x to 0.5х. For example, the MediBloc project has a current token price to token sale price of 0.5x, i.e. the price is 50% lower than during the ICO. The current market capitalization of MediBloc (MED) is around $12 million. However, it is important to remember that this project performed a fairly successful Airdrop on June 1, 2018, and gave all its MED (QRC20) token holders MEDX (ERC20) tokens. Accordingly, the capitalization of MediBloc [ERC20] (MEDX) is currently higher than that of the parent project, and equals around $20 million.

It must also be pointed out that the market capitalization of the leader in this category by the amount of funds collected, the Paragon project, has fallen to $4.4 million.

Figure 1.3. Top 10 ICOs by the amount of funds collected, Drugs & Healthcare category

During the analyzed period (August 13-19, 2018) at least 8 ICO projects were successfully completed, each of which collected more than $100,000, with the total amount of funds collected equaling more than $80 million. Last week’s leader was the Grapevine project, which collected $26.7 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)

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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