POPA Recon📊 From Retail Frenzy to Selective Capital: The Evolution of Public Token Sales
📊 From Retail Frenzy to Selective Capital: The Evolution of Public Token Sales Public fundraising isn't disappearing — it's becoming increasingly selective. Key findings: • Q4 2021 marked the peak of the cycle with $1.51B raised across 937 sales • 2024 brought back launch activity, with sales nearly returning to 2021 levels • The average raise per sale reached $3.15M in 2026 YTD, the highest level of the current cycle • IDOs continue to dominate, accounting for roughly 71% of all public sales since 2020 Instead of hundreds of speculative launches competing for attention, capital is flowing…
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