$160M ICOs raised in the first half of January 2019

As it has been reported, ICOs have raised a total of $160 million in the first half of January 2019 itself. The news was reported on January 8th by an upcoming ICO rating service, ICObench.

The said amount was raised through the ICOs in December 2018 and has managed to rise to 33% of the sum total. Already, half of the money that was raised has been given to a project.

ICObench’s report stated that more than 150 fundraisers shall take place for this months fundraising. The number 150 has been consistent in the past year only except in the month of December. The ICO report 2019 also said that the numbers are declining every year which shows that this method of fundraising is becoming unpopular.

The combined hard cap for January amounts to $4 billion. A hard cap is a maximum amount a project can get from different investors during an ICO. In fact, it was said that three of the five fundraisers had already reached the amount of their hard cap.

The leading country during this first half of ICO fundraising was Canada. The country attracted around $80 million for themselves making them the lead in the process. The second position was taken by Estonia which raised $52 million in the first half of January.

The third position was taken by the Netherlands by raising $10.8 million and the United Kingdom was at the fourth position for raising $4.9 million. However, these were the funds received by these countries.

When it comes to the number of projects, the United States is in the lead with 8 ICOs. In the same list, the United Kingdom is the second with 4 ICOs and Estonia is the third in position with 3 ICOs. icobench.com has all the detailed reports with accurate stats if you would like to more rankings.

In the year 2018, it was seen that 264 ICO projects related to cryptocurrency failed. BitMEX reported that 54% of the total value of $24 billion was lost due to the decline of the coins.

When ICO gained popularity, they said that it would be the future of fundraising. It was rumoured that ICO would replace the venture capital tradition of fundraising.

And it is not just ICO that is gaining this heightened demand. Blockchain as a whole is witnessing a huge attention from all possible sources.

Some experts are thinking that cryptocurrency will change the way of trade in 2019. Many big companies like IBM and Google are going for blockchain as they see a bright future. This is another reason why blockchain app development has become so popular among app development companies.

Every blockchain development company has seen the demand for blockchain solutions and it’s a proven fact that blockchain is more than just cryptocurrencies. After taking up the finance and trade industry, blockchain has won over healthcare, travel and living and now moving to aerospace as well.

In one of our previous blogs, we talked about how NASA is warming up to blockchain technology to help in better between ATC system and aircraft. This shows how many possibilities blockchain has.

Even countries like Saudi and UAE are warming up to cryptocurrency. In recent news, it was reported that Saudi Arabia and UAE launched pilot cryptocurrency initiative which may be using the ripple technology. All the news are proof that 2019 is going to see more of blockchain and cryptocurrency than any previous year ever has.

If you too wish to contribute in the statistics by bringing your ICO raise amount in the bracket, contact our ICO experts, today.

THE AUTHOR

Tripti Rai

Content Manager