If a ban initiated by China’s central bank last week marks an end to the first era of ICOs — the early gold rush before the regulators arrive — then Q2 2017 may turn out to be a peak quarter in the history of the industry.
The total amount raised by startups via ICOs, which are known as token sales and involve the sale of newly minted crypto coins based on Ethereum, reached nearly $800 million in value during the three-month period, according to a report from crypto industry news.
Combined with the first quarter, the publication said that total ICO funds raised during the first half of the year came in at $1.13 billion.
CoinDesk’s ICO tracker shows that 2017 to date — so January to early September — has seen more than $1.7 billion raised by token sales. A previous report from Goldman Sachs estimated more was raised via ICOs than early stage investors in the first half of the year.