Public crypto token sales are heading for their weakest quarterly fundraising result in five years after raising just US$58 million so far in Q2 2026.

CryptoRank data published on 10 June showed that public fundraising has fallen 85% from the previous quarter.

The sharp decline covers initial coin offerings, initial decentralised exchange offerings and initial exchange offerings.

Q1 2026 had already shown weakness after projects raised about US$390 million across 105 public sales.

Conditions worsened further in Q2 as public token launches struggled to attract retail and market interest.

April recorded only US$15 million in fundraising across 20 public token sales.

May brought in around US$41 million from 13 sales, marking the lowest monthly…