Crypto public token sales hit five-year low in Q2 2026

Public token sales raised $58 million in Q2 2026, an 85% decline from Q1, with 37 IEOs, ICOs and IDOs closed, according to CryptoRank data. The total is the lowest quarterly figure in CryptoRank’s five-year dataset.

The number of public sales fell from 105 in Q1 to 37 in Q2, a 65% drop. May saw only 13 token sales close, the fewest in a single month since late 2020 when four sales were recorded.

Q2 2026 compares with $135 million raised in Q2 2025 and $375 million in Q2 2024. The quarter’s total is 57% lower than a year earlier and 85% lower than two years earlier. Sales counts fell from 576 in Q2 2024 and 255 in Q2 2025 to 37 in Q2 2026.

Quarterly disclosed raises fell from $482 million in Q4 2025 to $390 million in Q1 2026 and $58 million in Q2 2026. Initial DEX Offerings accounted for 68.6% of public sales in 2026, Initial Exchange Offerings 19.9%, and Initial Coin Offerings 11.5%.

CryptoRank wrote: “After peaking in Q1’25 with nearly $849M raised across 429 sales, the public fundraising market has been steadily losing momentum.”

Since the start of 2024, disclosed public fundraising totals $4 billion across 3,017 sales. The Q2 figure is quarter-to-date and could change before final reporting.