RT by @Cointelegraph: RT by @Cointelegraph: Token sale activity has collapsed to its lowest point since 2024. Token sale peak was Q1 2025, with $849 million raised across 429 sales. That quarter marked the top of retail appetite for new token launches. Every quarter since has been lower. Q2 2026 has almost been a near-complete shutdown. There’s been just $58 million raised across 37 sales, a 93% drop in capital raised and a 91% drop in sale count from the Q1 2025 peak. The collapse in token sales removes a consistent source of sell pressure. However, projects that do not raise now will raise later. The $4 billion raised across the full Q1 2024 to Q2 2026 window represents capital already com

Token sale activity has collapsed to its lowest point since 2024.

Token sale peak was Q1 2025, with $849 million raised across 429 sales. That quarter marked the top of retail appetite for new token launches. Every quarter since has been lower. Q2 2026 has almost been a near-complete shutdown. There’s been just $58 million raised across 37 sales, a 93% drop in capital raised and a 91% drop in sale count from the Q1 2025 peak.

The collapse in token sales removes a consistent source of sell pressure. However, projects that do not raise now will raise later. The $4 billion raised across the full Q1 2024 to Q2 2026 window represents capital already committed to teams building products that will eventually launch tokens.

When sentiment recovers and the launch window reopens, the backlog of deferred launches will hit simultaneously. That is worth tracking as a leading indicator of when the next distribution phase begins.

— @CointelegraphMT Jun 12, 2026