Information as of October 8, 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;
- Nick Evdokimov, Co-Founder of ICOBox;
- Anar Babaev, Co-Founder of ICOBox;
- Daria Generalova, Co-Founder of ICOBox
This report presents data on ICO market changes during 2018. Special emphasis has been placed on an analysis of the changes that took place last week (October 1-7, 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 (October 1-7, 2018)
|№||Factors and events
(link to source)
|Date of news||Description||Type of impact|
|1.||Maduro Announces Official Launch of Petro
|October 2, 2018||The non-recognition of its own cryptocurrency by the global community did not stop Venezuela: prices and wages in the country have already been tied to the Petro, and now the coin can be used for international settlements.||Favorable
|2.||Ethereum’s Upcoming Constantinople Hard Fork Gets Postponed
|October 4, 2018||On behalf of the entire development team at the Ethereum Foundation, Peter Szilagyi announced that the main reason for the delay is the recently discovered vulnerability in one of the five Constantinople upgrades.
|3.||Venezuela’s Petro: Public Sale to Commence on November 5, New Details Brought to the Surface
|October 5, 2018||According to Maduro’s speech, Petro is currently available for purchase from official wallets, which can be downloaded in Google Play Store. The public sale will be launched next month, on November 5, 2018.
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
|Total amount of funds collected, USD million||1 723||1 501||897||1 049||487,8||103,6|
|Number of companies that completed an ICO1||110||80||93||50||54||11|
|Maximum collected, USD million (ICO name)||72 (Flashmoni)& 118 (Orbs) &
|575 (TaTaTu)||68.3 (Crypto-solartech)||134 (TZERO)||46.6 (Alchemy)||29 (AERGO)|
|Average collected funds, USD million||15.7||18.8||9.6||21.0||9.0||9.4|
1 This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com, and icobench.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 – October 7, 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 previous period (October 1-7, 2018) the amount of funds collected via ICOs equaled more than $100 million. This amount consists of the results of 11 ICOs that disclosed their data, with the largest amount of funds collected equaling $29 million by the AERGO ICO. The average collected funds per ICO project equaled $9.4 million (see Tables 1.2, 1.3). A total of more than 30 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
|Number of ICOs*||Average collected,
|Total, 2017||6 890.1||514||13.4|
|January 2018||1 662||92||18|
|February 2018||2 675||88||30.4|
|March 2018||7 117||74||96.2|
|April 2018||1 045||100||10.4|
|May 2018||1 723||110||15.7|
|June 2018||1 501||80||18.8|
|August 2018||1 049||50||21|
|October 1-7, 2018||103.6||11||9.4|
|Total for 2018***||18 260||752||24.3|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com, and icobench.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: October 7, 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 since the start of the month
Table 1.4. Top 10 ICOs by the amount of funds collected (October 1-7, 2018)*
|№||Name of ICO***||Category**||Collected, $ million||Date|
|1||AERGO||Infrastructure||29||October 7, 2018|
|2||Lambda||Infrastructure||15.1||October 2, 2018|
|3||MakerDAO||Infrastructure||15||October 1, 2018|
|4||Zeon Network||Finance||11||October 1, 2018|
|5||SKALE||Infrastructure||9.7||October 4, 2018|
|6||Gamblica||Gambling & Betting||7||October 1, 2018|
|7||Eternal Trusts||Infrastructure||6.2||October 1, 2018|
|8||Productivist||Infrastructure||4.3||October 1, 2018|
|9||WatermelonBlock (Private Sale)||Data Analytics||3.5||October 1, 2018|
|10||Iagon||Data Storage||1.4||October 5, 2018|
|Top 10 ICOs*||102.3|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), tokendata.io, icodrops.com, icodata.io, coinschedule.com, icobench.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 (October 1-7, 2018) may be adjusted as information on the amounts of funds collected by completed ICOs is finalized.
Last week’s leader was the South Korean AERGO project, which is an all-encompassing ecosystem created to automate business processes in the corporate sector. AERGO is a blockchain with a 4th generation protocol, fast and scalable, which uses the latest in cutting-edge technology.
The AERGO architecture consists of three elements, which together form the Aergo platform: Aergo Chain (a public blockchain with a dPoS consensus mechanism and a declared throughput capacity of more than one million TPS), Aergo Hub (designed to receive access to computing capacity and for the possible launch of various apps), and Aergo Marketplace (intended for peer-to-peer trading of computing assets).
Figure 1.2 shows the top ten ICOs.
Figure 1.2. Top 10 ICOs by the amount of funds collected (October 1-7, 2018)
1.3. Top ICOs in the Infrastructure category
The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week. Despite the fairly large amounts of funds collected, the AERGO, Lambda, and MakerDAO projects were not among the ten largest projects in the Infrastructure category by the amount of funds collected via ICO (Table 1.5).
Table 1.5. Top 10 ICOs by the amount of funds collected, Infrastructure category
|№||Name of ICO||Category*||Collected, $ million||Date||Token performance|
|1||EOS**||Infrastructure||4000||June 1, 2018||5.92x|
|2||TON Pre-ICO-1,2||Infrastructure||1700||March 31, 2018||n/a|
|3||Hdac||Infrastructure||258||December 23, 2017||0.04x|
|4||Tezos||Infrastructure||230.5||July 13, 2017||2.86x|
|5||Sirin Labs||Infrastructure||157.9||December 26, 2017||0.19x|
|6||Bancor||Infrastructure||153||June 12, 2017||0.39x|
|7||Polkadot||Infrastructure||144.4||October 28, 2017||n/a|
|8||Orbs (ORBIS)||Infrastructure||118||May 15, 2018||n/a|
|9||Status||Infrastructure||107.7||June 20, 2017||1.12x|
|10||Hedera Hashgraph||Infrastructure||100||August 1, 2018||n/a|
* This report uses the data of ICOBox, ICOBox Blockchain Research Center (IBRC), io, icodrops.com, icodata.io, coinschedule.com, icobench.com, and other specialized sources.
** EOS – the amount of funds collected over the year (from June 26, 2017, to June 1, 2018) was $4 billion, or 7.12 million ETH. When calculating the token performance, the ICO token price was set at 1 EOS = 0.99 USD.
*** The top 10 was compiled without The DAO, which collected $168 million (the project Failed, see the publication ICO Success and Performance. The Pareto Principle [80/20 Rule])
The projects from the top 10 in the Infrastructure category currently have low token performance indicators ranging from 0.04х to 5.92х. The EOS project and exchange listing can clearly be considered the most successful ICO from among the ten presented projects by the amount of funds collected, since based on estimates it collected more than $4 billion, and it has a current token price to token sale price of 5.92х. When analyzing this indicator, both the lengthy duration of the ICO (from June 26, 2017, to June 1, 2018) and the fact that the token price was constantly changing during the ICO should be kept in mind. 200,000,000 EOS tokens were sold during the first five days of the ICO, with another 2,000,000 coins subsequently being sold every 23 hours. The EOS token performance indicator given in Table 1.6 was determined based on a token sale price during the ICO of 1 EOS = 0.99 USD, and a current token price of 1 EOS = 5.86 USD. The current market capitalization of EOS exceeds $5.3 billion.
Figure 1.3. Top 10 ICOs by the amount of funds collected, Infrastructure category
During the analyzed period (October 1-7, 2018) more than 30 ICO projects were completed, and at least 11 projects have clearly indicated the amount of funds collected on their websites and this amount exceeds $100,000. The total amount of funds collected exceeded $100 million. Last week’s leader was the AERGO project, which collected $29 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
|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 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.|
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