ICO Market Analysis September

Transcription

1 ICO Market Analysis September

2 Introduction ICO market analysis September 2018 We are pleased to introduce you to our new ICO Market Monthly Report with analytics and trends for September 2018! This report aims to be your monthly guide to the ICO market and it is based on the data that we carefully gather at ICObench to provide best analytics and to discover new trends of the ICO market. Since the increasing of the popularity of ICO market, $22B has been raised altogether. With over.6k projects and 65K professional profiles in enterprise and blockchain published on the platform, we can ensure a clear outlook of the market and its community. We have processed and organized a magnificent amount of data for this report to show you the ICO market and its community s widely differing sides - specifically ICO market size for a variety of industries, countries leading in crypto, project s ratings and ICO market trends. We hope that the data in the report will be useful to you. As always, we work on improvements and will be happy to know if you want to see any additional information in the ICO Market Monthly Review. Thank you for choosing ICObench and we are looking forward to your feedback. Best, ICObench Team This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, ICObench, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. 2

3 Table of contents Aggregate Statistics Monthly Statistics Geographical Statistics Industries Statistics Rating Statistics 3

4 ICO market structure at the end of September published ICOs 3599 ended ICOs 1003 not ended ICOs 1271 ICOs raised funds 2328 ICOs did not raise funds 539 ongoing ICOs 6 upcoming ICOs

5 ICOs raising funds have a higher ICObench rating on average All ICOs ended for all time 3599 ended ICOs 1271 ICOs raised funds 2328 ICOs did not raise funds Average ICObench rating 3.2 Average ICObench rating 2.7 ICOs ended in September ended ICOs 63 ICOs raised funds 92 ICOs did not raise funds Average ICObench rating 3.6 Average ICObench rating 3.1 5

6 During the last week of September 2018, 57 ICOs rescheduled the enddate of the fund-raising campaign 212 ICOs were to be completed in September ICOs completed 57 ICOs rescheduled Rescheduled ICOs Oct-18 Nov-18 Dec

7 September 2018 resulted in a decline of both the Total Funds Raised and Average Funds Raised comparing to past statistics Time period Total funds raised Sep-18 $ Aug-18 $ Sep-17 $ All time $ Time period Average funds raised Sep-18 $ Aug-18 $ Sep-17 $ All time $ Time period Total ICOs ended Sep Aug Sep All time Time period Average Rating Sep Aug Sep All time 2.9 The total funds raised in September 2018 dropped significantly comparing to August 2018 and September The average amount of funds also decreased compared to August 2018 and September However, the average ICObench rating slightly increased in September

8 September 2018 ICOs are more successful on average in achieving the Soft Cap. While Hard Cap achievement is opposite Time period Successful ICOs* Success Rate Sep % Aug % Sep % All time % Time period SC reached ($) SC reached (#) Sep-18 6% 2% Aug-18 % 26% Sep-17 95% 50% All time 52% 27% Time period HC reached ($) HC reached (#) Sep-18 7% 2% Aug-18 10% 3% Sep-17 29% 6% All time 10% 8% Time period Average HC/SC ratio Sep Aug Sep All time 6 Successful projects are ICOs that raised any positive amount of funds. Among ICOs ended in September 2018 the share of successful projects is greater than that of August However, September 2017 ended up with 2/3 of projects that raised a positive amount of funds, while September 2018 resulted in only approximately 1/3. However, Hard Cap reaching dropped significantly in both monetary and piece terms. Although, the average gap between Soft and Hard Caps became more concentrated. *Successful ICOs are projects that raised any positive amount of funds 8

9 September 2018 ICO market leaders did not outperform previous month leaders by the number of funds raised, rating or the number of ratings Top 5 ICOs by funds raised September 2018 ICO Total funds raised Alchemy $ GENEXI $ DatEat $ Aenco $ BitNautic $ August 2018 ICO Total funds raised tzero $ KitToken $ London Football Exchange $ NEW $ OSA $ September 2017 ICO Total funds raised Filecoin $ Kin $ KyberNetwork $ Enigma Catalyst $ ICON $ Top 5 ICOs by ICObench rating September 2018 ICO Rating # Ratings GENEXI.6 9 Cubomania.5 Pool of Stake.5 11 CoinSeason.5 Enlte.5 23 August 2018 ICO Rating # Ratings TimeBox.6 32 Incodium.6 2 SKYFchain.6 60 OSA.5 19 Tradelize.5 18 September 2017 ICO Rating # Ratings NEO.1 5 Viberate 10 KICKICO 9 Godzillion ICON Top 5 ICOs by the number of ratings September 2018 ICO # Ratings Rating Cryptics 3.1 Cryptassist Photochain 31. Modex GPCC 28 August 2018 ICO # Ratings Rating SKYFchain 60.6 TimeBox 32.6 GCOX 29 3 Codex 25 One Game September 2017 ICO # Ratings Rating Viberate 10 KICKICO 9 ICOS NEO 5.1 Bitcache 0.7 9

10 Table of contents Aggregate Statistics Monthly Statistics Geographical Statistics Industries Statistics Rating Statistics 10

11 During the year approximately the same number of ICOs was published every month on ICObench except the period February 2018 April Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 11

12 The total funds raised by ICOs are falling since June 2018 Total funds raised, $ bln Average funds raised, $ mln Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 12

13 ICO projects set the lower (Soft Cap) and upper (Hard Cap) fund-raising campaign goals more often There is an upward-sloping trend in the share of ICOs that set both soft and hard caps. However, most of ICO projects set hard cap only. Share of ICOs with both SC&HC available Share of ICOs with HC available Share of ICOs with SC available 100% 90% 57% 66% 58% 62% 80% 70% 6% 8% 60% 31% 29% 28% 35% 50% 0% 2% 18% 17% 30% 20% 10% Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 0% Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 13

14 The share of ICOs achieving Soft and Hard Cap are decreasing Among ICOs that set soft and hard caps projects tend to achieve the goal less often. However, aggregate hard cap ($) achievement by all projects together is more stable. Share of ICOs with SC reached Share of ICOs with HC reached SC reached (USD), % HC reached (USD), % 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% 50% 50% 0% 0% 30% 30% 20% 20% 10% 10% 0% 0% Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 1

15 ICOs tend to involve more advisors and get more ratings on average The average number of advisors involved in an ICO project is around people for the last 3 months. The average number of ratings that an ICO gets is close to for the last 3 months compared to 1-2 ratings per ICO on average a year ago. Average Number of Advisors per ICO Average number of ratings per ICO Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 15

16 A fund-raising campaign period duration is increasing over time A year ago average ICO period was approximately 1 month. The duration of the ICO period has an upward-sloping trend. Average ICO duration, days Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 16

17 Table of contents Aggregate Statistics Monthly Statistics Geographical Statistics Industries Statistics Rating Statistics 17

18 More than a half of all ICOs was launched in 10 countries Top 10 countries by # ICOs launched % Overall, there are 602 ICOs launched (ended, ongoing and upcoming) in total. USA SINGAPORE UK RUSSIA ESTONIA SWITZERLAND HONG KONG CANADA 10% 9% 7% 5% 5% 3% 2% 2% 2% GERMANY NETHERLANDS 59% of that projects are localized in 10 countries. Approximately 1/3 of all ICOs are from USA (1%), Singapore (10%) and UK (9%). Country # ICOs Share USA 65 1% Singapore 1 10% UK 396 9% Russia 311 7% Estonia 230 5% Switzerland 227 5% Hong Kong 137 3% Canada 98 2% Germany 9 2% Netherlands 93 2% Subtotal % Total % 18

19 More than a half of all ended ICOs are from 10 countries Almost a half of all completed projects are localized in 10 countries. Nearly 1/3 of all ICOs are from USA (16%), Singapore (9%) and UK (8%). The top 5 countries list is the same by the number of ICOs and by the total number of funds raised. Almost ½ of all ICOs are from the top 5 countries. However, the total number of funds raised by these countries are almost 2/3 of the total. The USA is still #1 country in the list. However, Russia outperformed Singapore and became #2 by the total amount of funds raised. Besides, the Cayman Islands and the British Virgin Islands are included in the top 10 countries by the number of funds raised list while these countries are not in the list of top 10 countries by the number of ended ICOs. Top 10 countries by # ICOs ended % Top 10 countries by funds raised $7.2 bln $2.3 bln $1.8 bln $1.6 bln $1.2 bln $1 bln $0.6 bln $0.6 bln $0.6 bln $0. bln 16% 9% 8% 8% 5% % 3% 2% 2% 2% USA SINGAPORE UK RUSSIA SWITZERLAND ESTONIA HONG KONG CANADA AUSTRALIA GERMANY 10% 8% 7% 5% % 3% 3% 3% 2% Country # ICOs Share Country Funds raised Share USA % USA $ % Singapore 325 9% Russia $ % UK 302 8% 6% Singapore $ % 63% Russia 273 8% Switzerland $ % Switzerland 165 5% UK $ % Estonia 15 % Cayman Islands $ % Hong Kong 106 3% British Virgin Islands $ % Canada 81 2% Estonia $ % Australia 77 2% Hong Kong $ % Germany 66 2% Canada $ % Subtotal % Subtotal $ % Total % Total $ % USA RUSSIA SINGAPORE SWITZERLAND UK CAYMAN ISLANDS BRITISH VIRGIN ESTONIA HONG KONG CANADA 19

20 September 2018 list of top 5 countries by the number of ICOs ended did not change comparing to the general statistics Overall, there are 155 ICOs ended in September Almost a half of that projects are localized in 5 countries. Nearly 1/3 of all ICOs are from USA (1%), Singapore (9%) and UK (8%). The 10th place is split between countries Malta, Gibraltar, Cayman Islands, and India. However, September 2018 list of top 10 countries by the number of ended ICOs does not match with the top 10 countries by the number of funds raised. Singapore outperformed the USA by the total amount of funds raised, and its share is almost 1/5 of the total funds raised in September USA and UK are down in the top 10 countries by the number of funds raised list and Russia is not even included in this list. Country # ICOs Share USA 21 1% Singapore 1 9% UK 13 8% Russia 11 7% Estonia 10 6% Switzerland 10 6% Germany 7 5% Hong Kong 7 5% Australia 5 3% Cayman Islands 3 2% India 3 2% Gibraltar 3 2% Malta 3 2% Subtotal % Total % Country Funds raised Share Singapore $ % Hong Kong $ % Germany $ % Estonia $ % Switzerland $ % Cayman Islands $ % Samoa $ % USA $ % Australia $ % France $ % Subtotal $ % Total $ % 20

21 The list of top countries by the number of ICOs ended is quite stable over time Comparing time periods all time (considers all ended ICOs without time frames), September 2018, August 2018 and September 2018 in the perspective of the number of ICOs completed by countries leads to a conclusion that the USA, Singapore, and the UK are stable leaders. However, Switzerland is not in the top 5 countries by the number of ICOs list in the last 2 months, but it is Estonia instead. All time Country # ICOs Share USA % Singapore 325 9% UK 302 8% Russia 273 8% Switzerland 165 5% Subtotal % Total % September 2018 Country # ICOs Share USA 21 1% Singapore 1 9% UK 13 8% Russia 11 7% Estonia 10 6% Subtotal 69 5% Total % August 2018 Country # ICOs Share Singapore 2 15% UK 19 12% USA 18 12% Estonia 11 7% Russia 7 5% Subtotal 79 51% Total % September 2017 Country # ICOs Share USA 19 2% Russia 9 11% Singapore 8 10% UK 6 8% Hong Kong 5% Subtotal 9 58% Total % 21

22 The USA was a stable leader by the number of funds raised until Singapore outperformed it in September 2018 September 2018 Country Funds raised Share Singapore $ % Hong Kong $ % Germany $ % Estonia $ % Switzerland $ % Cayman Islands $ % Samoa $ % USA $ % Australia $ % France $ % Subtotal $ % Total $ % September 2017 Country Funds raised Share USA $ % Canada $ % Singapore $ % Japan $ % Russia $ % UK $ % China $ % Switzerland $ % Slovenia $ % Costa Rica $ % Subtotal $ % Total $ % August 2018 Country Funds raised Share USA $ % UK $ % Singapore $ % Malaysia $ % British Virgin Islands $ % Austria $ % Hong Kong $ % Germany $ % China $ % Cayman Islands $ % Subtotal $ % Total $ % All time Country Funds raised Share USA $ % Russia $ % Singapore $ % Switzerland $ % UK $ % Cayman Islands $ % British Virgin Islands $ % Estonia $ % Hong Kong $ % Canada $ % Subtotal $ % Total $ % Comparing time periods all time (considers all ended ICOs without time frames), September 2018, August 2018 and September 2018 in the perspective of the amount of funds raised by countries leads to a conclusion that the USA was a stable leader by the number of funds raised until Singapore outperformed it in September September 2018 ICO market became less concentrated compared to the previous month (August 2018) and last year market state (September 2017). The latest leading countries by the number of funds raised are from Asia and Europe leaving the USA behind. 22

23 The Hong Kong is the leader by the average number of funds raised in September 2018 September 2018 Country Average funds raised Hong Kong $ Samoa $ Germany $ Singapore $ Cayman Islands $ France $ Switzerland $ Estonia $ Australia $ USA $ August 2018 Country Average funds raised Malaysia $ USA $ UK $ British Virgin Islands $ Austria $ Cayman Islands $ Singapore $ Hong Kong $ China $ Germany $ Fixing the samples of top 10 countries by the number of funds raised in the corresponding order helps to see that in terms of average funds raised the order does not hold. Even though the USA is usually one of the top countries by the average number of funds raised, it closes the top 10 list in September September 2017 Country Average funds raised Canada $ USA $ Japan $ China $ Switzerland $ Singapore $ Slovenia $ Russia $ Costa Rica $ UK $ All ended ICOs Country Average funds raised USA $ Cayman Islands $ British Virgin Islands $ Russia $ Switzerland $ Canada $ Singapore $ Hong Kong $ UK $ Estonia $

24 Approximately 1/3 of all ended ICOs did not set hard cap. Therefore, the goal achievement is to be analyzed only for that projects with available hard cap # ICOs Country All ended ICOs Funds raised with HC available Funds raised without HC available Raised by ICOs with HC 36% 6% Hars cap is set Hard cap is not set USA* $ $ Russia** $ $ Singapore $ $ Switzerland $ $ UK $ $ Cayman Islands $ $ British Virgin Islands $ $ Estonia $ $ Hong Kong $ $ Canada $ $ % 95% 79% 78% 70% 8% 7% 2% 21% 21% Hong Kong Cayman Islands Estonia Singapore UK Switzerland British Virgin Islands Canada USA Russia Share of the total funds raised There are two projects raised an enormous amount of funds EOS (USA*) raised $.2 bln and TON (Russia**) raised $1.7 bln. Excluding them from the sample lead to different results All ended ICOs (EOS and TON excluded) Funds raised with HC Funds raised without Country available HC available Raised by ICOs with HC (EOS & TON excluded) USA $ $ % 8% Hars cap is set Hard cap is not set Russia $ $ Singapore $ $ Switzerland $ $ UK $ $ Cayman Islands $ $ British Virgin Islands $ $ Estonia $ $ Hong Kong $ $ Canada $ $ % 95% 81% 79% 78% 70% Hong Kong Cayman Islands Russia Estonia Singapore UK 50% 8% 7% 2% USA Switzerland British Virgin Islands Canada 2

25 Among ICOs that set HC in September 2018 Singaporean projects raised the greatest amount of funds. However, HC is reached by more than a half only by South Korean and Lithuanian ICOs September 2018 All ended ICOs Country Aggregate HC*, $ mln Funds raised*, $ mln HC reached Country Aggregate HC*, $ bln Funds raised*, $ bln HC reached Singapore % USA % Hong Kong % Singapore % Germany % Cayman Islands % Estonia % UK % Switzerland % Switzerland % Samoa % Hong Kong % USA % Russia % France % Estonia % South Korea % Gibraltar % Lithuania % Lithuania % September 2018 ICOs, HC reached All ended ICOs, HC reached 70% 58% 8% 2% 3% 33% 11% 12% 22% 8% 15% 27% 3% % 23% 7% 19% 20% 8% 11% Singapore Hong Kong Germany Estonia Switzerland Samoa USA France South Korea Lithuania USA Singapore Cayman Islan ds UK Switzerland Hong Kong Russia Estonia Gibraltar Lithuania *Only ICOs with hard cap set are considered 25

26 Among top countries by the number of funds raised in September 2018 the most popular projects were from Hong Kong and Switzerland with the average rating close to Country September 2018 Average ICObench rating Average number of ratings Singapore Hong Kong Germany.1 2 Estonia Switzerland Cayman Islands Samoa.1 USA Australia France.3 2 Average rating in September Country All ended ICOs Average ICObench rating Average number of ratings USA 3.1 Russia Singapore 3. 5 Switzerland 3. 6 UK Cayman Islands British Virgin Islands Estonia Hong Kong Canada Average rating among all ended ICOs Considering all ended ICOs, the average ICObench rating is around 3 and is stable across the top by funds raised countries. The most popular in terms of the average number of ratings per ICO are British Virgin Islands, Estonia, Russia, and the Cayman Islands Billions USA Russia Singapore Switzerland UK Cayman Islands British Virgin Islands Estonia Hong Kong Canada Average Rating Total funds raised Average number of ratings 26

27 Table of contents Aggregate Statistics Monthly Statistics Geographical Statistics Industries Statistics Rating Statistics 27

28 Among all ended ICOs the leaders by the number of funds raised are Cryptocurrency and Platform projects. In September 2018 Cryptocurrency industry is #1 One ICO can be considered to be in several industries. Therefore, they are not unique. Cryptocurrenc y, $11.65 b ln Platform, $10.9 bln Business services, $3.17 bln Infrastructure, $3.16 bln Banking, $2.8 bln Investment, $2.58 bln Software, $2.2 bln Internet, $1.9 bln Smart Contract, $1.53 bln Media, $1.31 bln Entertainment, $1.25 bln Communication, $1.1 bln Big Data, $0.89 bln Artificial Intelligence, $0.77 bln Retail, $0.7 bln Health, $0.62 bln Casino & Gambling, $0.6 bln Other, $0.5 bln Energy, $0.3 bln Real estate, $0.32 bln Electronics, $0.31 bln Manufacturing, $0.3 bln Sports, $0.28 bln Tourism, $0.27 bln Education, $0.23 bln Virtual Reality, $0.18 bln Legal, $0.16 bln Ch arity, $0.1 b ln Art, $0.09 bln Total funds raised by industries, all ended ICOs Billions Platform, $20. mln Big Data, $12.5 mln Business services, $131.1 mln Investment, $130.5 mln Cryptocurrenc y, $113.8 mln Banking, $85. mln Smart Contract, $78.8 mln Artificial Intelligence, $7.3 mln Health, $55.9 mln Software, $52.2 mln Other, $50. mln Internet, $36.7 mln Retail, $3.9 mln Education, $32.2 mln Ch arity, $28.8 mln Entertainment, $25.2 mln Infrastructure, $15. mln Media, $13 mln Real estate, $11.1 mln Manufacturing, $10.3 mln Legal, $10.1 mln Electronics, $6.8 mln Communication, $2.6 mln Art, $2.5 mln Tourism, $1.2 mln Energy, $0. mln Casino & Gambling, 0 Sports, 0 Virtual Reality, 0 Total funds raised by industries, September 2018 ICOs Millions

29 The most numerous industries by the number of ICOs ended are Platform and Cryptocurrency as well as by the amount of the total funds raised. However, leading industries by the average amount of funds raised per ICO are Infrastructure, Cryptocurrency, and Banking Average funds raised # ICOs Millions Platform Cryptocurrency Business services Investment Software Smart Contract Internet Entertainment Infrastructure Banking Communication Artificial Intelligence Big Data Other Media Retail Health Real estate Education Casino & Gambling Tourism Sports Energy Manufacturing Virtual Reality Charity Electronics Legal Art 29

30 The most popular industries in terms of the number of ratings in September 2018 were Art, Artificial Intelligence, Charity and Education. The most numerous industries by the number of ICOs were Platform, Cryptocurrency and Business services ICOs ended in September 2018 by industries Average Rating # ICOs Average number of ratings # of ICOs # of ratings Art Artificial Intelligence Banking Big Data Business services Casino & Gambling Charity Communication Cryptocurrency Education Electronics Energy Entertainment Health Infrastructure Internet Investment Legal Manufacturing Media Other Platform Real estate Retail Smart Contract Software Sports Tourism Virtual Reality 30

31 Most of the industries underperformed by the average funds raised in September 2018 compared to the same indicator for the last 12 months Charity (5 ICOs) Big Data (18 ICOs) Education (13 ICOs) Artificial Intelligence (16 ICOs) Other (18 ICOs) Real estate (7 ICOs) Legal ( ICOs) Art ( ICOs ) Investment (37 ICOs) Entertainment (15 ICOs) Health (15 ICOs) Tourism (5 ICOs) Business services (9 ICOs) Software (28 ICOs) Sports (1 ICOs) Retail (11 ICOs) Smart Contract (1 ICOs) Virtual Reality (6 ICOs) Manufacturing (6 ICOs) Cryptocurrency (66 ICOs) Platform (89 ICOs) Co mmunicatio n (13 ICOs) Internet (28 ICOs) Infrastructure (19 ICOs) Banking (18 ICOs) Electronics (3 ICOs) Energy (5 ICOs) Casino & Gambling ( ICOs) Media (1 ICOs) Average raised in September 2018 vs last 12 months The average amount of funds raised in September 2018 differs from the average amount of funds raised in the last 12 months. The most numerous industries regarding the number of ICO projects (Platform, Cryptocurrency and Business Services) raised fewer funds on average than the average in the last 12 months. September 2018 ICO projects in Charity only outperformed by the average number of funds by industry Millions Negative deviation Positive deviation 31

32 Table of contents Aggregate Statistics Monthly Statistics Geographical Statistics Industries Statistics Rating Statistics 32

33 ICOs rated 3.5+ raised the larger part of the total number of funds General statistics Total number of all ended ICOs allocation 18% 25% 20% 15% By the end of the September 2018, 3599 ICOs have been finished, and the most significant share of projects was rated with The second place is held by the group of ICOs that has been rated with % 3% 8% 8% 1% Projects rated 3.5+ together are 2% of the total number of ICOs General statistics Total funds raised allocation 21% 30% 30% Among all ended ICOs the projects that completed their ICO and are rated with and have raised the greatest amount of funds compared to others. The distribution is skewed to the right. 0% 0% 2% 5% 10% 2% Projects rated 3.5+ raised together 62% of the total number of funds

34 The share of the total amount of funds raised by ICOs with ICObench rating 3.5+ increased September 2018 statistics Total number of ICOs allocation 21% 26% 17% 21% In September 2018 the greatest group of ICOs was rated with , while projects that are rated with.0.5 are the second by the share of the total. The distribution is skewed to the right. 0% 1% 3% 10% % Projects rated 3.5+ together are 2% of the total number of ICOs September 2018 Total funds raised allocation 30% 30% September 2018 funds allocation is similar to the general statistics. However, The share of the total amount of funds raised by ICOs with the highest ICObench rating increased. 0% 0% 5% 3% 7% 11% 1% Projects rated 3.5+ raised together 7% of the total number of funds

35 ICOs with a greater ICObench rating raise more funds on average Millions Average funds raised Averagenumber of ratings Among all ended ICOs, projects rated raise a greater amount of funds on average. Higher ratings are more frequent. Millions Average funds raised Averagenumber of ratings In September 2018 there was only 1 ICO raised 12 funds with ICObench rating , and it is an 10 outlier in average terms. Ignoring it, ICOs with the 8 highest ICObench rating raised a higher amount of funds on average. 6 Also, the share of low ratings per ICO is greater comparing to general statistics

36 There is a positive correlation between the ICObench rating and the probability to raise a positive amount of funds General statistics Success rate # ICOs Success Rate Average success rate 5% 57% 63% 56% 100% 80% 60% A more detailed rating analysis shows a positive correlation between the ICObench rating and the success rate - the probability of raising a positive amount of funds % 18% 17% 18% 28% 0% 20% % September 2018 Success rate # ICOs Success Rate Average success rate Among all ended ICOs projects rated.0.5 have the highest chances to raise funds % 0% 25% 33% 23% 30% 56% 58% 83% % 90% 80% 70% 60% 50% 0% 30% 20% 10% 0% September 2018 statistics show that for ICOs with ICObench rating.5+ the probability to raise funds was the greatest. 36

37 Thank you for your attention We are looking forward to your feedback. Please send your questions and suggestions to