A recent report by an ICO rating service, ICO Bench revealed that ICOs (initial coin offerings) raked in 160 million dollars in the first fifteen days of 2019. The report, however, indicates a decline in ICO listings.
ICO Raised 33% Of Amount Raised In December
The report by ICO Bench noted that a total of 160 million dollars that was raised by ICOs in the first fifteen days of 2019 represents only 33 percent of the value of what was raised by ICOs in December 2018. Notably, half of the whole amount secured in the first half of January was garnered by just only one project.
Further, the report also stated that the number of ICO listings has continued to decline in January, which gives a notion that ICO might not be in vogue again. This is explicit in the percentage of what ICOs raised in the first half of the year to what was raised in the last month of 2018. However, it must be noted that ICO remains a vital tool for the establishment of crypto or blockchain startups, as it serves as an avenue to raise capital for projects; thus making it an essential tool.
In contrast, the report also noted that the number of fundraisers that are set to take place in January is more than 150, which is equivalent to the figure obtainable in the past seven months excluding December. Probably, the bearish crypto market trend could be adduced to the decline.
Leading Countries In ICO and Maximum Fund
According to the new report, ICO Bench Canada is leading in the first half of the month with the amount of 80 million dollars raised from ICO, while in the number of ICO projects, Netherlands is topping the list ahead of other countries.
Also, the combine hard cap, which is the maximum funds that could be raised by a project from investors during an ICO in January is in the tune of over 4 billion dollars. However, the report noted that three fundraisers out of the five largest in the first half of the month have reached or almost reach their target.
Call To Facilitate The Development Of ICOs
A report by the Organisation for Economic Cooperation and Development – OECD – on the 15th of January admonished global regulators to work together to facilitate the development of initial coin offerings. This is noted as key to aiding annexation of the benefits.