The number of initial exchange offers (IEO) is growing, with 72 projects attracting a total of $262 million in the first half of 2019.

CoinGecko published its cryptocurrency market report for the II quarter of 2019. According to the study, 72 IEOs took place in the first half of 2019, raising $262 million in total. The average amount attracted in the first half of 2019 was $3.7 million per project. April became the most intense month with 24 IEO taking place and $109.9 million attracted. In May and June, 16 IEOs were carried out.

The largest amount was raised by the platform WaykiChain for smart contracts, raising $18.5 million, followed by Lambda ($16.4 million), Poata Token ($15.4 million), Blockcloud ($15 million), and Top Network ($15 million).

According to the study, approximately 50% of the funds were raised on five platforms operated by cryptocurrency exchanges. Gate.io, Binance, Okex, Huobi and Bittrex took the leading positions, helping projects to raise $47.6 million, $27.2 million, $24.3 million, $22.7 million and $16.9 million, respectively.

Despite the fact that only half of IEO projects were profitable, if one had invested in all of them, the ROI would still be 44%.

The top growing IEO-projects by ROI are Lambda (1874%), Mixmarvel (1249%), Lichang (1138%), Bittorent (1068%), and Global Trading System (820%), while coins Facepower and Aivia lost more than 90% of their value since the sale of tokens.