ICObench has published its Q1 2019 ICO Market Quarterly Analysis, providing an accurate picture of the current state of the initial coin offering (ICO) market and what the landscape is set to look like in the next quarter. Unfortunately, the report disclosed that the total number of funds raised by ICOs in Q1 2019 was almost $0.5 billion lower than in Q4 2018. The report by the token sale portal outlines many other key trends for ICOs in the cryptocurrency sector, some of which proved particularly alarming.
Most worryingly, the number of ICOs that successfully raised funds was down 50% on Q4 2018. According to ICObench, Q1 2019 closed with 328 ICO projects on offer, with only 107 projects successfully raising funds. That compares poorly with Q4 2018 when 585 ICO projects were on offer, with 207 of which successfully raising funds.
These figures also underline that the total number of ICO projects was down 44% between these two quarters, further cementing the wider concerns that the popularity of ICOs is diminishing. This has…