Views Differed: Irregularities in ICO stats

Views Differed: Irregularities in ICO stats

Recently, three agencies, namely ICORating, Token Data, and CoinSchedule, revealed the ICO stats for November — and their data varies greatly. Let’s compare their methods

Data on the funds raised by ICOs in November shows unpromising results on a global basis. Many analytical firms and agencies are making their reports, however, figures provided by ICORating ($268 mln), Token Data ($65 mln) and CoinSchedule ($353 mln) are the closest to the truth. According to the data provided by each of the three agencies, the minimum of funds raised this year is set in November.

The difference in the provided data and figures is significant, that is why we decided to refer to the mentioned agencies to get the information on their methods of gathering statistics for ICO projects. By the time of publication, we received an answer only from ICORating analytics who shared with us their strategy for collecting data.

How do you store the projects’ data?

All the data provided on the ICORating website is stored in the internal database. Unfortunately, at the moment direct access to the database is not available, but we accept requests by e-mail and review them individually: info@icorating.com

How do you count the number of ICOs a month?

The number of ICOs is counted on a monthly basis as follows: we aggregate data from open sources, thus adding the information that junior analysts could not find, and then separately count the number of ended ICOs as the total number of projects for the past month and the number of successful projects for the month. A successful ICO is a project that got more than $0.5 million within the crowdsale and did not return the investment.

How do you search for ICOs?

We collect information on new ICOs from open sources:

  • listing platforms,
  • aggregators of investment rounds,
  • specific news resources,
  • conferences,
  • and investor communities.

How do you track wallet balances, in part, embrace different wallets with different currencies?

Currently, we do not aggregate data on the wallet balances due to the fact that projects often either leave the crowdsale final wallet address closed, or use several addresses to collect funds, and can also use escrow services, which also make access to the reliable data complicated. Therefore, we collect data on the funds raised from open sources: project’s social media channels, official statements, verified news sources. At the same time, we realize that in this case there is a risk to face dishonesty from the project team.

Do you take into account private sales?

If the project had only private sales, there was no public sale round and it is not planned, then we would not take private sales into account when calculating descriptive statistics on the ICO market. These funds are calculated in a separate database.

How do you evaluate a project’s revenue if it is a long-term one, like with the EOS-case?

We can say that there are few projects like this, therefore, we consider such cases individually.

During the ICO of EOS, we calculated ROI based on the data from the first round of ICO which ended in the summer of 2017. At the moment, we calculate ROI based on the data of the final round which ended in the spring of 2018. In general, we calculate ROI of the project at the end of ICO.

How we estimate funds of the projects that have crowdsale in several stages: we summarize funds for all periods of the project crowd sales and then use this amount when analyzing the project.

Would you make it a bit clearer as for how you keep track of such statistics: every month or once when the fundraising process is fully completed?

We calculate ROI of the project at the end of ICO. In addition, as part of market analysis reports, we also calculate ROI at the time of three days after the token listing on the exchange. To read our analytical reports, follow the link: https://icorating.com/reports/quarterly/

Data on the project funds are collected when the project is completed; and when we have access to the information on the number of attracted investments.

Do you take into account unsuccessful ICOs (say, an ICO planned to raise 40 mln, but raised only 800k)?

We collect data on all ICOs on the market, including funds raised and announced hardcaps. Therefore, we include unsuccessful ICOs in our statistics, with a methodological reference to the study as a warning. An unsuccessful ICO is a project that raised less than $0.5 mln via crowdsale and an ICO which has returned investments.

We would be happy to get comments from Token Data and CoinSchedule representatives in order to complete the article!

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ICORating Security Report: No Crypto Exchanges Earned A+; Only 21 of 135 Received an A- or A

ICORating regularly puts out Exchange Security Reports as independent analysts. As they published their report on December 18th, cryptocurrency trading platforms were close to the mark but did not quite reach it. Out of the 135 platforms evaluated, the company determined that there were only 16% of the biggest platforms in the world have managed to score an A- or above. However, not one reached a full A+. The trading platforms evaluated had a daily trade value of at least $100,000 and had to be evaluated in four different categories. Those categories included user account security, web security, registrar and domain security, and DoS attack protection. The top three exchanges, based on these evaluations, were Kraken (A), Cobinhood (A), and Poloniex (A-). There was a total of 55% of exchanges that managed to reach between a B+ and a B-, and the others had between a C+ and a C-. There were subcategories for each of the qualifying categories to get more specific in what the evaluation was looking for. User security was divided into four additional categories, which included two-factor authentication and password security. Unfortunately, out of all of the exchanges, there were only 22% that met all of the requirements. As far as domain and registrar security, there were multiple safeguards in place, which included the use of a registry lock and a brief expiration window that is directed to a high-profile domain. Web security, rather than having the four additional categories of these last two sections, has 10 criteria. Their criteria included MITM protection from attacks, HSTS header presence, and clickjacking attack protection. Every exchange managed to pass the requirement for MITM attack defenses, POODLE defenses, and Heartbleed defenses. HSTS headers were used by 37%, and there were 60% of the platforms that had protection for clickjacking. More of the exchanges had already taken the necessary measures to protect themselves against DoS attacks, which came in at 74%. Other rankings from the ICORating data included an A- for Coinbase Pro (9th), BitMEX (4th), Bitfinex (4th), and HitBTC (13th). Binance, despite having the largest exchange based on the volume that they trade alone, only managed to reach 34th in the lineup with a B+. Gemini, from the Winklevoss brothers, was 84th with a B-, and Huobi was down at 95th with a B-. This week, Cryptopia decided to suspend services when they lost a substantial amount of funds after a hack. They were the 60th on the ICORating list with a B as their grade, and police are already investigating.
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The ICORating Agency gives the Basic Review of the BtcEX Project.

BtcEX is a licensed cryptocurrency trading platform that gives easy access to a secure exchange offering high liquidity and multiple trading strategies In October of 2016 the BtcEX Hong Kong Bitcoin exchange launched and catered to over 4 000 customers within its first year In October 2017 BtcEX got hacked and lost all funds The lessons learned and experience gained from those unfortunate events will give the team an idea on how to improve security liquidity and platform stabilization BtcEX plans to fully relaunch the exchange and create a more secure token ecosystem that includes both leverage trading and P2P lending The following information about the project is available in public sources PROJECT BRIEF Name BtcEX Ticker BtcEX Coin BXC Project type Exchanges ICO BRIEF Presale start date December 15th 2018 Presale end date January 10th 2019 Public sale start date January 11th 2019 Public sale end date February 28th 2019 Private sale No Token type ERC20 Token usability Utility Total token supply 50 000 000 Token supply for sale 30 000 000 Percentage of tokens for sale 60 Soft cap USD 1 000 000 Hard cap USD 5 000 000 Token price 1 BXC USD 0 25 Bonuses Yes Lock ups Yes Currency accepted ETH Min Max contribution Presale USD 10 000 USD 100 000 Public sale ETH 0 1 USD 100 000 KYC Yes Additional emission No Country of registration Estonia planned Restricted list Bangladesh Nepal Macedonia Bolivia Ecuador Pakistan Palestinian territory Algeria Morocco Virgin Islands Afghanistan Colombia the Democratic Republic of the Congo Eritrea Guinea Bissau Iraq Iran North Korea North Libya Mali Somalia South Sudan Sudan Yemen China and the United States of America USA and China as well as Puerto Rico and the Virgin Islands and any other US territories TEAM ADVISORS Team members 5 Key members executives Kevin NG Maksym Maglovanyi Vikramaditya Kokil Advisors 3 Partners 6
ICORating

The ICORating Agency gives the Basic Review of the BtcEX Project.

BtcEX is a licensed cryptocurrency trading platform that gives easy access to a secure exchange offering high liquidity and multiple trading strategies In October of 2016 the BtcEX Hong Kong Bitcoin exchange launched and catered to over 4 000 customers within its first year In October 2017 BtcEX got hacked and lost all funds The lessons learned and experience gained from those unfortunate events will give the team an idea on how to improve security liquidity and platform stabilization BtcEX plans to fully relaunch the exchange and create a more secure token ecosystem that includes both leverage trading and P2P lending The following information about the project is available in public sources PROJECT BRIEF Name BtcEX Ticker BtcEX Coin BXC Project type Exchanges ICO BRIEF Presale start date December 15th 2018 Presale end date January 10th 2019 Public sale start date January 11th 2019 Public sale end date February 28th 2019 Private sale No Token type ERC20 Token usability Utility Total token supply 50 000 000 Token supply for sale 30 000 000 Percentage of tokens for sale 60 Soft cap USD 1 000 000 Hard cap USD 5 000 000 Token price 1 BXC USD 0 25 Bonuses Yes Lock ups Yes Currency accepted ETH Min Max contribution Presale USD 10 000 USD 100 000 Public sale ETH 0 1 USD 100 000 KYC Yes Additional emission No Country of registration Estonia planned Restricted list Bangladesh Nepal Macedonia Bolivia Ecuador Pakistan Palestinian territory Algeria Morocco Virgin Islands Afghanistan Colombia the Democratic Republic of the Congo Eritrea Guinea Bissau Iraq Iran North Korea North Libya Mali Somalia South Sudan Sudan Yemen China and the United States of America USA and China as well as Puerto Rico and the Virgin Islands and any other US territories TEAM ADVISORS Team members 5 Key members executives Kevin NG Maksym Maglovanyi Vikramaditya Kokil Advisors 3 Partners 6
ICORating

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