Crowdsales have proved to be a lucrative business in 2018 – for the project teams if not for their investors. In February, they raised $1.2 billion, down slightly from the $1.56 billion recorded the month before, placing them on a par with December’s total. It’s the third month in a row that the symbolic $1 billion threshold has been passed. Tokendata’s latest report singles out three countries as having risen to prominence in the ICO space: the U.S., China, and Lithuania.
These countries have proven to be rich with ICO activity. Of the billions raised this year, $788 million has come from projects based in the U.S., $265 million from China, and $249 million from Lithuania. (Switzerland, Europe’s crowdsale heartland, is fourth with $249 million). Investors based in the U.S. and China are largely excluded from participating in ICOs. Due to which, the innovation is occurring within their borders, but the funds are coming from overseas.
This week, European cryptocurrency broker Bitpanda announced it was getting in on the act with the launch of Pantos, a “multi-blockchain token system”. With its ICO scheduled to begin in 12 days, that doesn’t leave much time for investors to perform due diligence
Tokendata’s figures for February would be markedly higher if two of this year’s biggest hitters had been even included, Telegram and Dragon Coin. The former is on course to raise a staggering $2 billion, having already amassed $850 million over the past two months in its private sale. Its ICO remains active however, as does Dragon Coin, which has reportedly surpassed $320 million in its private sale already. If achieved, it would make the crowdsale one of the largest projects to date after Telegram.