ICO market slows sharply with only six completions in 2026
According to CryptoRank, only six token sales were completed in 2026 to date, and half are underwater compared to their offering price. Crypto financing is shifting, with VC-funded rounds also slowing down in April. Just six crypto projects chose an Initial Coin Offering (ICO) in 2026. The ICO was a staple during the 2017 bull market, but was gradually displaced by other models. Currently, smaller projects have shifted to airdrops or running as tokenless apps, while larger crypto companies look toward initial public offerings (IPO) on traditional exchanges. CryptoRank noted the six ICOs used CoinList or Echo for their sales, instead of staging independent events. CryptoRank noted outflows of VC funding As Cryptopolitan reported, crypto funding accelerated in March, achieving its best score in six months. In April, however, funding rounds slowed down again, coinciding with a more bearish sentiment on crypto markets. For the month of April, only $653M were raised in 61 funding rounds, the smallest total for the past 12 months. In April 2025, VC funds raised over $2B in 89 funding rounds. Funding in April fell to the lowest level for the past 12 months, as big VC backers retreated from the crypto space. | Source: CryptoRank. The VC participants also shifted, with