CoinDesk State of Blockchain Q2 2018 Report Summary

THE BEAT

CoinDesk, the leader in blockchain and crypto asset media, has published the State of Blockchain Q2 2018 ReportKey findings from the report include:

  • Lower exchange volumes, but increased developer work highlights focus on infrastructure devlopment over trading
  • ICO funding for the quarter averaged $393 million
  • EOS raises the all time highest ICO valued at $4.2 Billion
  • SEC declared ETH not a security, price jumps 9% after announcement  
  • June saw the highest value for ICO’s in Q2 with $5.499 Billion raised
  • Venture Capital firms closed 178 deals with a total value of $1.1 billion in Q2 (see Image 1 Below)
  • Accredited Investors use Simple Agreements for Future Tokens SAFTs to invest $304 million in Q2 ICOs (see Image 2 Below)

Venture Capital Deals Q2 2018

Image 1 via CoinDesk State of Blockchain Q2 2018 Report

Accredited Investors SAFT Deals Q2 2018

Image 2 via CoinDesk State of Blockchain Q2 2018 Report

Top ICOs vs. VC Deals

Image via Coindesk State of Blockchain Q2 2018 Report

CoinDesk Q2 2018 Sentiment Survey

Results from CoinDesk’s survey of over 1200 readers are highlighted below:

  • 65% determined current prices were undervalued 
  • 72% believe merchant adoption of cryptocurrencies will increase in 2018 
  •  Of the major crypto exchanges:
  1.  37% use Binance
  2. 23% use Coinbase
  3. 8% use Kraken
  4. 5% use Bitfinex
  5. 19% use other exchanges
  •  63% believe regulated institutions will tokenize traditional assets (real estate, stocks, bonds) in 5 years 
  • Respondents indcated that Malta (27%), Japan (14%) and Switzerland (10%) were the top 3 countries introducing proper cryptocurrency regulation

Q2 Exchange Usage

Image via CoinDesk State of Blockchain Q2 2018 Report

Countries Introducing Regulations

Image via CoinDesk State of Blockchain Q2 2018 Report

Summary

The most significant findings from CoinDesk’s Q2 2018 report is that infrastructure development has driven the majority of investment in the industry even as prices and trading have stagnated. This is seen as a positive trend as the continued development of the infrastructure of the blockchain will lead to greater adoption, security and investment as the industry moves past the speculative trading bubble of early 2018. This trend is expected to continue over Q3 and Q4 as more institutional investors move into the space. 

About CoinDesk:
CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Its mandate is to inform, educate and connect the global community as the authoritative daily news provider dedicated to chronicling the space. CoinDesk hosts its annual Consensus summit, the largest blockchain technology gathering in the world, and now, Consensus: Invest, an event designed to showcase the new asset class to wealth managers across the globe. CoinDesk also publishes The State of Blockchain, the ultimate, must-read analysis on the growth in this emerging new technology, every quarter.

Dan