ICO funding has quadrupled in 2017, with $2.8 billion raised using the unconventional method this year compared to just the $228 million raised by ICOs in 2016.

The U.S. and Asia are the leading places for ICOs, according to the Initial Coin Offering Funding Report, which was released last week by data analytics company Funderbeam said.

While ICOs in Europe have also experienced a boom, rounds in the U.S. and Asia are significantly larger, the report said.

The report showed the average ICO “round size” for North America was about $31.5m in 2017, coming just slightly ahead of Asia (a $30.7m average), but far ahead of Europe’s $16.7m average.

The report looked at approximately 150 ICO funding rounds, based on Funderbeam’s own data and supplemented with ICO data from Coinbase).

Take a look at the full report here.