icodata.io reports that the total sum raised by ICOs in May has exceeded that which was raised in April, representing the first instance in which month-over-month gain total for the funds raised through initial coin offerings has increased this year.
icodata. io had estimated at the time of writing that about $715 million USD were raised by ICOs during the month of May. This represents more than 27% increase over April’s total of about $516 million.
Advertising bans, heightened regulatory hostility in many jurisdictions and widespread claims that the returns generated by the ICOs for investors are small are just some of the challenges the ICO industry is facing. Despite that, the industry appears to be thriving. The total sum of funds raised through ICOs in 2018 is estimated to be about $5 billion at the time of writing. This is more than 82 per cent of the roughly $6.1 billion raised in 2017.
There is a decline in sums raised by initial coin offerings. The mean total raised by 871 ICOs last year is just over $7 million, half a million more than the mean total of almost $6.5 million raised by 780 initial coin offerings this year, so far.
On the 1st of June, Block.one’s roughly year-long EOS ICO came to an end, with analysts predicting that the offering raised in excess of $4 billion. This is believed to be the largest ICO in history. The EOS initial coin offering started on June 26, 2017.
Regardless of the big sum raised, EOS has garnered controversy within the cryptocurrency community. This is due to EOS’ terms that explicitly state that EOS tokens do not have any rights, uses, purpose, attributes, “functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.”