Weekly ICO Market Analysis [August 20-26, 2018]

By August 28, 2018 ICO
Click here to view original web page at www.coinspeaker.com
Photo: Pixabay
Photo: Pixabay

Please, see our report covering data on ICO market movements in 2018, with special emphasis placed on the analysis of market changes over August 2018, specifically August 20-26, 2018.

Information as of August 27, 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 20-26, 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 20-26, 2018)

Factors and events

(link to source)

Date of news Description Type of impact
1. Apple Co-Founder Steve Wozniak is Now a Part of Crypto Startup Equi Capital

[source: Coinspeaker]

August 22, 2018 The Apple co-founder admitted that this is the first time that he will participate in such a project, but did not disclose what he will be doing. Wozniak only noted that “he was amazed at the technology behind [cryptocurrency].” Favorable ICO ⇑
2. Crowdfunding Giant Indiegogo Expands into Crypto-Security Tokens with Tokenized Shares of Stock

[source: forbes.com]

August 24, 2018 Security tokens are usually backed by tangible assets: the funds or liabilities of the company that issues them, and now by real estate. Users of the popular crowdfunding platform have offered to purchase coins backed by the assets of a major hotel. Favorable ICO ⇑

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

Aug 1-5,

2018

Aug 6-12,

2018

Aug 13-19,

2018

Aug 20-26,

2018

Total amount of funds collected, USD million 1 747 1 499 926 221.0 312.3 94.4 54.8
Number of companies that completed an ICO1 118 79 99 8 12 9 6
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) 38.5 (Bytemine) active
Average collected funds, USD million 14.8 19.0 9.3 27.6 26 10.5 9.1

Note:
1 This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), 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 27, 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 20-26, 2018) the amount of funds collected via ICOs equaled $54.8 million. This amount consists of the results of six completed ICOs, with the largest amount of funds collected equaling around $38.5 million by the Bytemine ICO, which is still in the process of collecting funds. The average collected funds per ICO project equaled $9.1 million (see Tables 1.2, 1.3). A total of more than 35 ICOs were completed last week. However, not all projects indicate the amount of funds collected on their official websites (Table 1.5).

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
August 20-26, 2018 54.8 6 9.1
Total for 2018*** 17 402 697 25.0

* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), 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 27, 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 201

1.2. Top ICOs during the last week

Table 1.4. Top 6 ICOs by the amount of funds collected (August 20-26, 2018)*

Name of ICO*** Category** Collected, $ million Date
1 Bytemine Mining 38.5 active
2 Fondocoin Finance 6 August 22, 2018
3 LifeTask Recruitment 3.953 August 23, 2018
4 DNN Token Identity & Reputation 2.48 August 22, 2018
5 Kryptobits Finance 2.347 August 24, 2018
6 Cryptics Pre-sale Trading & Investing 1.5 August 26, 2018
Top 6 ICOs* 54.8

* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), 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 20-26, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.

Last week’s leader was the Bytemine project, which continues to sell tokens as part of its PRE SALE and has already collected around $38.5 million through the sale of more than 217 million BYTM tokens. The owners of Bytemine tokens will receive annual bonus payments based on the quantity of coins they possess.

According to the data of the Bytemine website, this is a widely diversified project aimed at several areas: mining, raw materials (commodities), finance, technology, and banking. Bytemine plans to issue tokens supported by certain goods such as natural gas, copper, oil, gold, and much more.

Figure 1.2 shows the six largest ICOs.

Figure 1.2. Top 6 ICOs by the amount of funds collected (August 20-26, 2018)

The other projects that completed their ICOs last week (August 20-26, 2018), the websites of which do not clearly present the amount of funds collected, are given in Table 1.5.

Table 1.5. Completed ICOs (August 20-26, 2018)

PROJECT RECEIVED, million $ START END DATE
1 AcuteCoin n/a 25 Jul 2018 24 Aug 2018
2 APRES n/a 2 Mar 2018 23 Aug 2018
3 BandZ n/a 2 Jul 2018 20 Aug 2018
4 BitChord n/a 11 Apr 2018 27 Aug 2018
5 BitSoft Bay n/a 30 Jun 2018 26 Aug 2018
6 Bitway n/a 27 May 2018 27 Aug 2018
7 Bronix n/a 26 Jul 2018 26 Aug 2018
8 Decentralized News Network n/a 25 Jul 2018 22 Aug 2018
9 ELCoin n/a 8 Jan 2018 25 Aug 2018
10 ENDO Protocol n/a 20 May 2018 25 Aug 2018
11 Fluxorin n/a 30 Jul 2018 27 Aug 2018
12 Fondocoin n/a 24 Jul 2018 22 Aug 2018
13 Gaus n/a 15 Aug 2018 25 Aug 2018
14 GGX n/a 22 Jun 2018 21 Aug 2018
15 Global Pay Net n/a 24 May 2018 24 Aug 2018
16 ICOStart n/a 22 May 2018 23 Aug 2018
17 KitToken n/a 20 Jul 2018 20 Aug 2018
18 Kryptobits n/a 17 May 2018 24 Aug 2018
19 LifeTask n/a 27 May 2018 23 Aug 2018
20 Lovar n/a 14 Jun 2018 23 Aug 2018
21 Menlo One n/a 16 Jul 2018 20 Aug 2018
22 MetaCert Protocol n/a 25 Jul 2018 25 Aug 2018
23 NAM n/a 20 May 2018 20 Aug 2018
24 Officium n/a 1 Jul 2018 25 Aug 2018
25 OkeyDokey n/a 11 Jul 2018 23 Aug 2018
26 Onasander n/a 22 Jul 2018 23 Aug 2018
27 One Game n/a 20 Jul 2018 20 Aug 2018
28 OVATO n/a 10 May 2018 26 Aug 2018
29 Path.Network n/a 8 Aug 2018 24 Aug 2018
30 RedFund n/a 12 Aug 2018 26 Aug 2018
31 Spectrum Network n/a 30 Jul 2018 20 Aug 2018
32 The Digital Reserve n/a 23 Jul 2018 20 Aug 2018
33 Token Changer n/a 21 Jun 2018 21 Aug 2018
34 Trilliant n/a 11 Aug 2018 25 Aug 2018
35 Zeew n/a 14 May 2018 20 Aug 2018
36 OkeyDokey n/a 11 Jun 2018 23 Aug 2018

* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), icobench.com, tokendata.io, icodrops.com, icodata.io, coinschedule.com, and other specialized sources.

It can be assumed that part of the projects from the above list did not collect the minimum required amount (soft cap) and may be scams. Only one project (OkeyDokey) clearly stated on its website that they did not reach their soft cap and announced that they were going to return the collected funds. The crisis in the crypto industry is taking a toll on funds collected via ICOs.

1.3. Top ICOs in the Mining category

The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. The Bytemine project was among the top 10 largest projects by the amount of funds collected via ICO in the Mining category (Table 1.6).

Table 1.6. Top 10 ICOs by the amount of funds collected, Mining category

Name of ICO Category* Collected, $ million Date Token performance
1 Bytemine*** Mining 38.5 active n/a
2 Speed Mining Service Mining 35.6 November 10, 2017 0.07
3 Giga Watt Mining 20.2 July 31, 2017 n/a
4 HashGains Mining 12.63 April 30, 2018 n/a
5 Ice Rock Mining Mining 8.6 May 25, 2018 0.21
6 Gramaton Token Mining 7 July 24, 2018 n/a
7 Swiss Alps Mining Mining 6.02 July 27, 2018 n/a
8 Miner One token Mining 6 May 14, 2018 n/a
9 ETHernitymining Mining 2.5 July 31, 2018 n/a
10 HydroMiner Mining 2.9 November 15, 2017 n/a

* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), io, icodrops.com, icodata.io, coinschedule.com, and other specialized sources.
** The top projects in this category completed in July-August 2018 are highlighted in red.
*** Bytemine continues to sell tokens as part of its PRE SALE, and at present has sold more than 217 million BYTM tokens.

Most projects from the top 10 in the Mining category do not currently have data on token performance.

One that does, the Ice Rock Mining project, has a current token price to token sale price of 0.21x, i.e. its price is 79% lower than during the ICO. The current market capitalization of Ice Rock Mining is around $4 million. However, it should be remembered that this project completed its ICO in late May 2018, and during this same period the capitalization of the cryptocurrency market as a whole has fallen by approximately 50%.

The Russian project Russian Mining Center can also be included in the top ten. According to the data of forklog, this project collected a record amount for a Russian ICO: $43.2 million.

Figure 1.3. Top 10 ICOs by the amount of funds collected, Mining category

During the analyzed period (August 20-26, 2018) more than 35 ICO projects were completed, and at least six projects have openly indicated the amount of funds collected on their websites and this amount exceeds $100,000. The total amount of funds collected equaled more than $50 million. Last week’s leader was the Bytemine project. 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). A clear trend is being seen toward a fall in the amount of funds collected via ICOs, which is directly related to the fall in cryptocurrency market capitalization since the start of 2018.

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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