Estimates are indicating that the total sum of capital raised by initial coin offerings (ICOs) in May exceeded the total sum raised in April – comprising the first month-over-month increase in the total sum raised by ICOs in 2018 so far.
Also Read: Markets Update: Slight Comeback Shows Cryptocurrencies Press Forward
Month-Over-Month Performance of ICOs Up for First Time in 2018
According to icodata.io, the total sum raised by ICOs in May has exceeded that which was raised in April – comprising the first instance in which month-over-month gain total for the funds raised through initial coin offerings has increased this year.
As of this writing, icodata.io estimates that ICOs have raised approximately $715 million USD during May – a more than 27% increase over April’s total of roughly $516 million.
Mean Total Raised by ICOs Declines in 2018
Although there are an increasing number of significant challenges now facing the ICO industry, such as advertising bans, heightened regulatory hostility in many jurisdictions, and widespread claims that the returns generated by ICOs for investors is declining, initial coin offerings appear to be thriving – with the total sum of funds raised through ICOs in 2018 (estimated to be approximately $5 billion as of this writing) having reached more than 82% of the roughly $6.1 billion raised in 2017.
The average sum raised by initial coin offerings has declined, however, with the mean total raised by 871 ICOs in 2017 equating to just over $7 million – half a million more than the mean total of almost $6.5 million raised by the 780 initial coin offerings of 2018 so far.
Year-Long EOS ICO Expected to Raise $4 Billion
Block.one’s roughly year-long EOS ICO will come to a conclusion on the 1st of June, with analysts predicting that the offering will have raised in excess of $4 billion – making it the largest ICO in history. The EOS initial coin offering began on June 26, 2017.
Despite the enormous sum raised, EOS has garnered controversy within the cryptocurrency community due to EOS’ terms explicitly stating that EOS Tokens do not have any rights, uses, purpose, attributes, “functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.”
Do you think that the ICO bubble is loosing steam? Share your thoughts in the comments section below!
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