Public Token Sales Hit 4-Year Low as Q2 Capital Plunges 95%
Just 47 ICOs, IDOs and IEOs cleared a combined $40M last quarter, the thinnest public-sale pipeline since 2022 and a 95% collapse from the cycle peak.
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Just 47 ICOs, IDOs and IEOs cleared a combined $40M last quarter, the thinnest public-sale pipeline since 2022 and a 95% collapse from the cycle peak.
ICOs still command the largest fundraising totals, but IDO platforms are reshaping how new projects reach the market — Fjord Foundry alone ran 202 token sales versus CoinList's 80.
Public token fundraising is no longer a retail-frenzy numbers game — it's a selective capital story. Q4 2021 still tops…
Public-sale fundraising collapsed to $58M in Q2, down 85% quarter-on-quarter, with May logging just 13 sales — the lowest monthly count since December 2020.
Only $58M was raised across IEOs, ICOs, and IDOs last quarter, an 85% QoQ drop, with just 37 public sales — the lowest tally since the 2020 cycle trough.
The pipeline is thin and dollar-modest — KAI alone accounts for the bulk of announced raise size across CTR, STRATO, CLIX, DIFF, KAI, and BYZAN.