Q2 token offerings raise $58M in worst quarter in 5 years

Token offerings through Initial Exchange Offerings (IEOs), Initial Coin Offerings (ICOs), and Initial DEX Offerings (IDOs) raised only $58 million in the second quarter of this year, marking the worst quarter in the last five years, CryptoRank reported on X. This figure represents an 85% decrease from the previous quarter. The number of offerings also plummeted by 65%, from 105 in the first quarter to 37 in the second. May saw only 13 token sales, the lowest monthly total since December 2020, which had four. The fundraising market has been in a steady decline since its peak in the first quarter of 2025, when it raised approximately $849 million across 429 offerings.