Image Credit: CryptoRank
Key Takeaways
- Public crypto token sales raised $58 million in Q2 2026, down 85% from Q1 and 57% year-over-year, with the sale count falling 65% to just 37 transactions.
- IDOs remained the dominant fundraising format in 2026, accounting for 68.6% of public sales despite the broader market contraction.
- The Q2 2026 figure remains subject to upward revision as the quarter was not yet closed at the time of the data pull, but the market has now posted three consecutive quarters of declining totals.
Crypto public token sales raised just $58 million in disclosed fundraising across IEOs, ICOs, and IDOs in the second quarter of 2026, putting the market on track for what would be its weakest quarterly result in five years, according to CryptoRank. The figure represents an 85% decline from the prior quarter and the smallest quarterly total recorded in CryptoRank’s dataset.
Q2 2026 Raises Down 85% From Prior Quarter as Sale Count Drops 65%
The number of public sales fell to 37 in Q2 2026, down 65% from 105 in Q1, according to CryptoRank. May was the softest month in the quarter, with 13 token sales, the lowest monthly count since December 2020, when four sales occurred.
CryptoRank noted the broader trend in its data: “After peaking in Q1’25 with nearly $849M raised across 429 sales, the public fundraising market has been steadily losing momentum.”
Q2 2026 Figures Down 57% Year-Over-Year and 85% From Q2 2024
The decline is sharper when measured against prior second quarters. Q2 2025 raised $135 million and Q2 2024 raised $375 million, putting the current quarter down 57% year-over-year and 85% from two years earlier.
Sale counts followed a similar trajectory, falling from 576 in Q2 2024 and 255 in Q2 2025 to 37 in Q2 2026. The sequential slide across recent quarters has been consistent, with raises dropping from $482 million in Q4 2025 to $390 million in Q1 2026 before falling to $58 million in Q2.
IDOs Accounted for 68.6% of Public Sales in 2026 Despite Overall Market Contraction
Despite the contraction in total volume, IDOs remained the dominant fundraising format in the year to date, accounting for 68.6% of public sales in 2026 through Q2. IEOs represented 19.9% of the total, while ICOs made up the remaining 11.5%. CryptoRank’s dataset recorded $4 billion in disclosed fundraising across 3,017 sales since the start of 2024.
With Q2 2026 not yet closed, the $58 million figure remains subject to revision. The public token fundraising market has now posted declining quarterly totals for three consecutive quarters, based on CryptoRank’s latest available data.
