TokenData Reveals ICO Tokens See Lowest Point in a Year with $400 Million in July 2018


ICOs Hit Its Lowest Point in Over 12 Months, Raising Only Over $400 Million In July 2018

The crypto space has struggled as the Bitcoin bear market was dominant over the first half of 2018 and, it seems, this has started to affect the ICO market now, as institutional investors are starting to turn their eyes on crypto and the market has started to be more careful with scams.

According to data from TokenData, a company focused on crypto analytics, ICOs raised about $417 million USD in July, down from $2.6 billion in February, which was the peak of the market, that remained over one million USD from December 2017 to May 2018, but dropped to $585 million USD in June.

The current value, $417 million, was unseen since August 2017, in which $430 million USD was raised, and only lower from May 2017 backward, when it reached a new height of $200 million USD for the first time.

Part of the reason why the values have dropped so much can also be because no sizable ICO with over $100 million USD was conducted in the last two months. Returns for BTC investors have also been down from 3.0x in the second quarter of 2017 to 0.9x in the same quarter of 2018, which means that now the investors mostly lost their money investing in the bear market.

Downtrend In The Industry As A Whole

It can clearly be seen that the downtrend affects the industry at large, as the price of the tokens fell and ICO raised less money, people also started to look a lot less for Bitcoin on Google. Google Trends shows that the popularity of the word Bitcoin fell from 37 in January to only 8 on August 1. 100 would represent the peak, which happened between November and December 2017.

While many investors are still optimistic about the market and have projected a turnaround for the end of the year, the market has continued to struggle in growth and even the recent surge in the price of Bitcoin is not enough to take the market back to the 2017 levels.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide