ICOs Have Already Raised Over $13 Billion in 2018
Initial Coin Offerings (ICOs) have already raised $13.7 billion in 2018, nearly doubling last year’s total of $7 billion and exceeding all pre-2018 ICOs combined in only five months.
According to a recent report by PwC, which compiled a list of the top 15 biggest ICOs since 2016, major fundraising rounds by projects like Telegram ($1.7 billion), the popular messaging app, and EOS ($4.1 billion), a platform for decentralized applications (DApps), have propelled 2018 far beyond previous year totals.
Other notable names in the list include Polymath (POLY), a platform for issuing security tokens, and Basis, a stablecoin backed by Bain Capital, Google Ventures, and Andreessen Horowitz, among others.
The report goes on to say that the United States remains a leading ICO destination, reinforced by clear and firm regulatory requirements (e.g. KYC). Additionally, only around one-third of all announced ICO projects to date have closed successfully.
While the incredible growth has been driven by a few major projects, tightening regulation will likely shift the landscape that has worked to crowd out traditional VC funding.