Public token sales via IEOs, ICOs, and IDOs raised only $58 million in Q2 2026, marking the weakest quarter in five years. According to CryptoRank, this represents an 85% drop from the prior quarter and a 57% decline year-over-year. The number of sales fell to 37, down 65% from Q1 2026, with May recording just 13 sales, the lowest since late 2020. The downturn follows a peak in Q1 2025, when $849 million was raised across 429 sales. IDOs remained the dominant fundraising method, accounting for 68.6% of 2026 public sales. Factors include reduced investor appetite and competition from private fundraises.

Key facts

• Only $58 million raised in Q2 2026, down 85% from Q1 and 57% from a year ago.
• Number of public sales fell to 37, a 65% drop from 105 in Q1 2026.
• May 2026 saw just 13 token sales, the lowest monthly figure since late 2020.
• IDOs dominated, making up 68.6% of public sales in 2026.
• Q2 2025 raised $135 million vs $375 million in Q2 2024, showing prolonged decline.