Public Token Sales Raise $40 Million, Their Lowest Quarterly Total in Four Years

Public token offerings raised $40 million in the second quarter of 2026, their lowest quarterly total in four years. In a separate funding channel, private crypto and blockchain companies attracted $5.683 billion in venture investment across 384 deals. The public-sale tally covered 47 offerings. Its proceeds were 95.3% below the cycle high of $849 million, while the number of sales was 90.5% below its peak of 496. Those figures compare Q2 with the respective historical highs for proceeds and sale count. The public-sale category includes initial coin offerings, initial exchange offerings and initial DEX offerings.