Public token sale fundraising fell to $58 million in the quarter, down 85% from the previous quarter, while May logged just 13 sales, the lowest monthly count since December 2020.
Q2 2026 is shaping up to be the weakest quarter for public token fundraising in the past five years, CryptoRank said, as IEOs, ICOs and IDOs raised just $58 million. That total was down 85% from the previous quarter. May recorded 13 sales, the lowest monthly count since December 2020, adding to signs of a sharp cooling in early-stage token issuance. The figures point to weaker investor appetite for higher-risk fundraising channels such as exchange-led launches, direct coin offerings and decentralized exchange listings.