Public token sales dropped to $58 million, the lowest quarterly total since 2020, amid a sharp decline in activity.
Public fundraising for initial coin offerings (ICOs) and initial DEX offerings (IDOs) fell to $58 million in Q2 2026, an 85% decline from the previous quarter. The number of public sales also dropped 65%, from 105 in Q1 to 37 in Q2.
The market peaked in Q1 2025, when nearly $849 million was raised across 429 sales. Since then, momentum has waned, with May 2026 recording just 13 token sales, the lowest monthly figure since December 2020.
The data reflects a broader downturn in crypto fundraising, signaling reduced investor appetite and project launches.