In line with a recent report by ICO rating service ‘ICObench‘, ICOs [Initial coin offerings] within Q4 last year in 2018 raised around 25% less than in Q3, whereas the total amount of completed ICO’s exaggerated.
The no. of ICOs completed within Q4 last year exaggerated to 594 from 554 in Q3, the report says. With that, the no. of ICO’s that failed to raise funds has additionally exaggerated within the Q4, whereas the no. of successfully completed ICOs remained equal.
In line with the report, the total funds raised by ICOs in Q4 was around $1.4 Bln, down from $1.8 Bln in Q3, while the avg. amount per project has additionally fell to $6.7 Mln from $8.9 Mln.
Following the outline of a falling trend on the ICO market in Q4, ICObench noted that around 88% of listed projects accepted Ethereum [ETH] so as to boost funds. The ICO rating firm stressed that Ethereum’s value has born by over 43% since Nov. last year, suggesting that it has become the actual reason for the decline in raised funds within Q4.
While the ICOs in Q4 has performed even worse in terms of raised funds, the Q4 ICO’s showed a higher record of hard caps than in Q3. Higher performance in terms of hard caps implies that ICOs within the Q4 have additionally set the right max. amount of money that they might secure from investors via an ICO.
As per ICObench, ‘Singapore‘ has become the top ranked country by both the amount of funds raised along with the total no. of completed ICOs within the Q4 of last year, with 85 ICO’s having raised around $251 Mln. Ranked 2nd, Switzerland’s ICO’s have reportedly raised around $238 Mln, whereas ICOs in ‘U.S.‘ have secured around $159 Mln within the Q4.
As per an another report by ICObench, ‘Canada‘ has been leading throughout the first half of Jan. in terms of funds raised, with a combined figure of $80 Mln. In respect to the sheer no. of ICO’s, the U.S. was ranked at 1st position.