ICOs Attract USD 9 Billion in Jan-May 2018

An overview of the Top 3 Initial Coin Offerings so far in 2018

by Coins.Online
30 May • 2.5 min
In Coins

As much as USD 8.9 billion have been invested in a total of 343 Initial Coin Offerings (ICOs) so far in 2018, which is more than twice as much as the USD 3.8 billion raised by this type of crowdfunding during the whole of 2017, data from CoinSchedule shows.

With Telegram’s pre-sale leading the chart with some USD 1.7 billion raised, the world's largest ICO by far might get ditched due to SEC regulations and Telegram might choose to raise the money privately from investors.

Second ranks Petro, a controversial Venezuelan state-backed crypto project, which gathered USD 735 million in a private pre-sale.

Besides Telegram and Petro, there have been many other crypto projects crowdfunded through a token sale in 2018. Here are the largest three of them that make the top five in terms of cash raised.

 

Dragon – USD 320 million

 

Dragon is a Chinese company aiming to digitize gaming chips inside casinos using the blockchain technology, thus making it easier to track money and chips inside the gaming industry. Dragon tokens, or DRG, were distributed through an ICO that run for a month, from February 15 to March 15, managing to raise USD 320 million.

 

Huobi – USD 300 million

 

Huobi is an international digital currency trading platform and exchange founded in 2013. In February this year, the company introduced its own token called Huobi token, or HT. It is meant to serve as a loyalty reward coin based on a blockchain. The company raised USD 300 million through an ICO that ended on February 28.

 

Bankera – USD 151 million

 

Bankera is a Lithuanian project founded in 2017 that aims to become a digital bank by providing services such as payments, loans and deposits, and investments, all that on a blockchain. Bankera’s ICO kicked off in November 2017 and closed in February 2018 as it managed to bring in nearly USD 151 million in capital.

Although there are more ICOs and more money invested in this type of crowdfunding, collecting above 100 million through a single ICO is still a rare sight. However, with both the size of the average funding round and the rate of project funding higher than ever, we can expect investing in the crypto space to continue soaring. At the same time, regulators across the world are putting lots of efforts to protect investors from ICO scams, which have become largely popular.