Emerging Technologies

This animation charts the spectacular rise of cryptocurrency

Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. British authorities have come out in support of digital currencies in the name of promoting financial innovation, while proposing that regulations should be drawn up to prevent their use in crime. But it is technophiles who are leading the drive to make London a real-world hub for trade in web-based "cryptocurrencies", of which bitcoin is the original and still most popular.   Picture taken May 27, 2015.  REUTERS/Benoit Tessier

Initial Coin Offerings have earned 90% of their total funds this year. Image: REUTERS/Benoit Tessier

Jeff Desjardins
Founder and editor, Visual Capitalist

In our chart highlighting Bitcoin’s epic journey to $10,000, we also noted that 2017 was a landmark year for the Initial Coin Offering (ICO), a method used to raise initial funds for development and marketing of new cryptocurrencies or tokens.

ICOs have become so popular that well over 90% of total funds raised through this mechanism came from this year alone.

Loading...

While it’s hard to put this sudden ICO explosion in context, we think today’s animation does the phenomenon sufficient justice. Coming from Max Galka at Elementus.io, today’s animation shows a timeline of ICOs and funds raised since early 2014.

In an added dimension, each ICO is also classified based on geographic region. The colorful fireworks that happen throughout 2017 help to make it clear that we are indeed living in the year of the ICO.

Year of the ICO

Despite bans in China and South Korea, there is no shortage of fervor for new cryptocurrencies or tokens.

Image: Visual Capitalist

In their short history, there have been three ICOs that raised over $200 million – and six more that surpassed the $100 million mark.

Here is a breakdown of the nine biggest ICOs so far. Note that eight of them took place in 2017:

Image: Visual Capitalist

It’s worth mentioning that with the price for bitcoins and ether both rising fast, that these ICOs have actually raised even more capital than initially shown. That’s because the dollar amounts above are based on the value of bitcoins and ether at the time of the raise.

With billions in capital going into new projects, investors and speculators are anxiously waiting to see which coin or token will be the next Ethereum to take the market by storm.

Have you read?
Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

Sign up for free

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Stay up to date:

Blockchain

Related topics:
Emerging TechnologiesFinancial and Monetary Systems
Share:
The Big Picture
Explore and monitor how Blockchain is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

3:35

These ‘underwater tractors’ are replanting seagrass and corals

Science once drove technology – but now the reverse is true. Here's how we can benefit

About us

Engage with us

  • Sign in
  • Partner with us
  • Become a member
  • Sign up for our press releases
  • Subscribe to our newsletters
  • Contact us

Quick links

Language editions

Privacy Policy & Terms of Service

Sitemap

© 2024 World Economic Forum