Although the number of initial coin offerings completed in Q4 2018 has grown since Q3, ICOs raised together a quarter less than they had in the previous quarter, according to a report by ICObench. Q4 saw almost 594 ICOs completed, 40 more compared to Q3 2018. Unfortunately, the growth is not reflected in the number of ICOs that raised funds—both Q3 and Q4 saw 209 ICOs raise funds.
While the projects raised less money, the ICObench claims the number of funds raised every month was stable, when November’s price shock is taken into consideration. The total funds raised by ICOs in Q4 fell from $1.8 billion in Q3 to $1.4 billion. However, since almost nine out of 10 projects accepted ethereum which lost 43% of its value in November, the raised value might be understated when represented in USD, ICObench wrote.
The report said, “Singapore is the top country by both the number of funds raised and the number of ICOs completed in Q4.”