Number of ICOs Grew 1.5 Times, Money Raised Decreased 12% in Q2: Report

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The number of ICOs launched in the second quarter of the year grew by 49 percent, a new report states. The amount of money raised, however, indicated that investors were less excited at the prospect of investing in ICOs, as it fell by 12 percent. Finance and commerce ICO projects took the lion’s share of the money, with entertainment coming in third. The number of projects that hit their hard cap also fell, with investors remaining cautious in the wake of huge market volatility. The Market in Q2 The report compiled by digital assets management firm Matrix CIB revealed that in the second quarter of this year, 288 ICO projects were launched. This was a 49 percent increase from the 193 projects launched in the previous quarter. Despite the growth in the number of projects, the amount raised from ICOs dropped by 12 percent to $3.5 billion. The number of projects that hit their hard cap also dropped significantly from the 86 percent registered in the first quarter to 54 percent in Q2. The four biggest cryptocurrencies by market cap retained their positions in the second quarter. Bitcoin, Ether, XRP and Bitcoin Cash maintained their places at the top, with Litecoin losing its spot as the fifth biggest cryptocurrency to EOS. The five largest cryptocurrencies also maintained their combined share of the total market capitalization which stood at 75 percent. The quarter also saw a number of projects launch their mainnets. The biggest and most anticipated of these was EOS,…
Source: Number of ICOs Grew 1.5 Times, Money Raised Decreased 12% in Q2: Report

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