May recorded 13 sales, raising $41M, making it the weakest month since 2020, but June could be worse, with $2M raised from four sales so far.

Public crypto token sales have raised just $58 million in Q2 2026, according to data published by CryptoRank on June 10, a drop of 85% from the previous quarter.

It means that the period is well on the way to becoming the weakest fundraising quarter for ICOs, IDOs, and IEOs in five years.

Public Fundraising Is Drying Up Across Crypto

CryptoRank’s data showed that Q1 2026 had already looked weak, with about $390 million raised across 105 sales, but things have deteriorated even further in the second quarter.

The severity of the…