ICOs were unaffected by the bear market and attracted significant interest from investors through the end of last quarter. 2017 was a big year for cryptos as they shot into the limelight, but 2018 has been ten times better. This is according to a market status report published by ICORating on August 8. The report revealed that ICOs in the first half of the year attracted 10 times more investment than during the same period last year. The second quarter of the year witnessed better fortunes for ICOs than the first quarter did, with more ICOs being launched and more money being raised.
The amount of money raised this year may have increased tremendously, but the quality of ICOs has gone down significantly. According to the report, 50 percent of all the ICO projects announced in 2018 have failed to attract more than $100,000. This can’t be solely blamed on the quality of the ICOs, however, as investors have become more cautious due to the rising number of scams. Only 13 percent of the ICO projects launched during the first half of 2017 were unable to raise $100,000.