ICO fundraising has cooled down from the $6b raised in 2017, as many altcoins find themselves trading 50+% lower than their peak levels. New ICO projects raised $911m in January, after a record $1.6b in December.
In Tuesday’s trading, when bitcoin hit its recent low, many altcoins did as well. EOS, one of the largest initial coin offerings, or ICOs, was down 67% since Jan. 13, when it hit a record of $18.37. TRON, which started trading in September, was down 92% since Jan. 22. OmiseGo was down 71% since Jan. 9. ICON was down 75% since Jan. 30. Even an “old” ICO such as Augur, down 69% since Jan. 12, hasn’t been spared. Most of the larger, more established altcoins fell sharply as well. Ether, the currency used on the Ethereum network, was down 60% since its Jan. 13 record. Ripple was down 84% since Jan. 4. Bitcoin Cash was down 82% since Dec. 20. Litecoin was down 71% since Dec. 19.