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!

Related news

UAE the top destination for token sales in 2019 as US plummets to eighth spot, finds Coinschedule report

The Kingdom of the United Arab Emirates [UAE] has overtaken the United States as the top location for the sale of digital assets. The Gulf country now accounts for over 25 percent of funds raised via token offerings, while the US accounts for less than 5 percent. Coinschedule, the blockchain and cryptocurrency rating company released a report which stated that token sales in UAE notched up over $210 million. The United States, which took the top spot in the previous calendar year was bogged down to the eighth position in the first four months of the year, accounting for under $38 million in sales. Source: CoinSchedule Taking the second spot was the Cayman Islands, which held one-eighth of the total amount raised through token sales, a notable $103.75 million. The cryptocurrency havens of Singapore and Hong Kong followed up, with UK, South Korea, Canada and surprisingly, Zimbabwe, completing the list. Interestingly, the UAE did not make the top-10 list last year. The United States’ significant drop can be attributed to the SEC’s regulatory pressure on Initial Coin Offerings [ICOs] and deeming tokens as securities, much to the dismay of the larger cryptocurrency community. Alex Buelau, the CEO of CoinSchedule, in light of the above, told Bloomberg: “We are seeing the continuation of the move away from the USA due to regulatory concerns.” Coinschedule added that UAE’s performance in token sales is down to two notable sales. The first was GCBIB, the banking and insurance products development platform for virtual currency holders, which raised $142 million. Secondly, Bolton Coin, which raised $67 million allowing investment in cryptocurrency mining and real estate. In terms of the number of token sales, Singapore tops the list, amassing 12 token sales in 2019 alone. The UK and the US take the second and third spot, hosting nine and seven token sales respectively, despite regulatory pressure. Hong Kong, the Cayman Islands, and the Netherlands also climbed up the list, with no place for the UAE in the top-10 list. The UAE, along with Saudi Arabia has been looking to launch a digital currency tethered to their respective central banks that can be used for cross-border remittance payments. Aber, the touted digital currency has been in the works since December 2017, with only a limited number of national banks involved in the project. The post UAE the top destination for token sales in 2019 as US plummets to eighth spot, finds Coinschedule report appeared first on AMBCrypto.
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The ICORating Agency gives the Basic Review of the PrepayWay Project.

PrepayWay is aiming to develop an all in one solution for international contracting financing payments and dispute resolution The platform will combine the functions of lawyers banks escrow agents and arbitral institutions The following information about the project is available from public sources PROJECT BRIEF Name PrepayWay Ticker INBIT Project type Platform ICO BRIEF Pre sale start date April 18th 2019 Pre sale end date TBA Public sale start date TBA Public sale end date TBA Token type ERC20 may be exchanged at a later stage Token usability Utility Total token supply 12 763 636 364 Token supply for sale 6 500 000 000 Percentage of tokens for sale 50 9 Soft cap None Hard cap EUR 50 000 000 Token price 1 INBIT EUR 0 01 Base price Bonuses Yes Lock ups Yes Currencies accepted ETH Min Max contribution EUR 10 EUR 300 Applies to the first presale tier max 1000 participants KYC Yes Additional emission Yes upon voting Triggers If the value of InBit tokens locked in smart contracts exceeds EUR 100 000 000 When PrepayWay launches the proprietary blockchain Registration country Switzerland Restricted list United States of America USA Switzerland and restricted jurisdictions TEAM ADVISORS Team members 22 Key members executives Prof Dr Frank Emmert Dr Mihnea Constantinescu Nikolai Kalinin Eduard Langebraun Oliver Nedela Dr Vahe Sahakyan Antonio Gurei Advisors 2
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