ICO fundraising figures continue to slide downwards in 2019. Cryptocurrency token sales are down almost 90 percent from the figures obtained 12 months ago.
Investor Interest in Token Funding Plummets
According to data from ICObench, token funding continues to plummet. At the end of Q1 2018, ICOs had raised about $4.75 billion. However, from January 2019 till date, token offerings have only eked out a meager $575 million in comparison.
Apart from being down almost 90 percent based on fundraising amount, the number of projects is also on the decline. December 2018 recorded 248 ICOs alone, meanwhile the total number seen from the start of the year till press time stands at 238.
This 2019 decline is a continuation of the trend that began to emerge in the middle of 2018. In October 2018, Bitcoinist reported that ICO fundraising was at a 17-month low.
token funding is trending toward zero, via @fundstrat pic.twitter.com/XTqaT29LuL
— Rebecca Ungarino (@ungarino) March 17, 2019
Maturing Market, Increased Regulations, or Both?