Recently, research firm TeqAtlas conducted a study showing that blockchain startups raised $3.2 billion in the first half of 2019. Tokens are still the most popular form of financing, and their funding is close to twice that of traditional financing. . Research has also shown that IEO is becoming more and more popular and has gradually replaced ICO. In 2018, blockchain startups raised more than $20 billion, the highest since the industry became mainstream. However, in 2019, this number dropped sharply. In the first half of this year, the blockchain startup company's successful financing amount was only 3.2 billion US dollars, and the number of transactions reached by the industry was also affected. There were 268 transactions in the first half of the year, compared with 910 in 2018.