On Monday October 8, research firm Autonomous Next published its latest monthly figures for the volume of funds raised through initial coin offerings (ICOs), the revolutionary mechanism for founders of new crypto companies exploring ways to exchange value and ownership of assets through tokens on blockchains to build their otherworldly visions into real businesses.

ICO funds raised by end-month ($ million)

Source: Autonomous NEXT, Pitchbook Data, China Microlenders

The peak month for ICOs was January this year, when new blockchain based companies raised $2.43 billion through this method, 10 times as much as through venture equity.