ICOBench Rating Service Reports ICO Project Launches Grew in Q4, But Funding Slipped From Q3
Number Of ICOs In Q4 Increased, However, The Money Raised By Them Falls Significantly: ICO Bench Report
ICO rating service ICObench recently their quarterly report for the tail end of 2018 which shows the trend of an increased volume of smaller ICOs.
The report says that the number of ICOs completed in Q4 is almost 600 and Q4 2018 ICOs did better with the hard cap reaching compared to Q3 2018. The number of funds raised monthly was stable even after the November’s price shock and it was equal roughly to $0.5 billion.
Each top 10 countries by the number of funds raised have reached the hard cap more successfully than the average in Q4 2018. Singapore is the top country by both the number of funds raised and the number of ICOs completed in Q4. Q4 2018 ICOs raised together a quarter less than it was in Q3 2018.
Notably, 88% of projects accept Ethereum to raise funds and the Ethereum price dropped by more than 43% in November. Therefore, the USD equivalent of the number of funds raised is understated due to the Ethereum price change. The share of ICOs that raised a positive amount of funds in Q4 2018 slightly decreased compared to Q3 2018.
The report says:
“ICObench listing has a downward-sloping trend since summer 2018. However, STOs gained popularity among both projects and the community. The ICO period continues to enlarge, and it has been close to a 2-month period in Q4. In the present market, state projects need more time to reach their goals.”