Ethereum Has Lost 11.25% of the ICO Market Share from Q2 to Q3

The ICO Market Research Q2 2018 report by ICORating showed that, 95% of initial coin offerings happen through the use of crypto assets deployed on the Ethereum blockchain.

However, the same report for Q3 showed a drop of 11.25% (down to 83.75%) in ICOs using Ethereum as the base for their crypto assets when compared to Q2. The report for Q2 split the remaining 5% of ICOs to Waves (1.3%) and other (3.7%).

The report for Q3 however, saw much more diversity, with Stellar and NEO joining the fun respectively with 1.17% and 1.34%. Waves saw an increase to 1.68% and the remaining 12.06% were assigned to other.

Ethereum has been dominating the initial coin offerings scene, ever since they became a thing, and it still is. However, we are seeing an increase in projects using other blockchains for their digital assets.

Most probably, this is because projects are looking into more unique angles to attract investors and/or have specific functionality needs that are not met by Ethereum’s blockchain.

Whatever the case is, it is good to see that the ICO platform market is no longer a complete “monopoly”. Hopefully, it will get even more diversified, which will undoubtedly created more opportunity for new projects to create something exciting and stir up the blockchain industry once gain.

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