Startups raised more than $5.3 billion through ICO in 2017

ICO has raised more than US$5.3 billion so far this year. ICOdata noted a growing crowdfunding market where startups raising funding through an initial coin offering (ICO) showed a rising graph which at least in December would touch US$1 billion.

ICOdata.io is a platform that tracks startups rolling out ICO as crowdfunding. Data show at least more than US$5.3 billion has been invested to support startup businesses during January to December 31.

The slowdown in August ended with a spike in September of US$798 million and continued to rise to December close to US$1 billion. A total of 769 ICOs have been launched this year with an average of US$7.1 million where the token market is growing in the business concept.

Investors increase spending as the economic concept becomes easier, proven, involving an active community and a credible team. Most ICOs prefer to be called 'utility' tokens compared to securities which would negate the necessity of dealing with federal regulators.