How come everyone's suddenly back into ICOs??
A few weeks ago and any mention of an ICO would have everyone up in arms??
Good question. Normally an ICO should be backed by plans and proper fundamentals, otherwise it is putting your money on red or black on the roulette table. Maybe the safety net of a % buy wall by the exchange plays a role, or the practice of a dev team buying up the ICO to create a false sense of demand sometimes plays a role. Since there are no fundamentals with EKN, people probably took a chance and if it fails there is the % buy wall to recover their money. However, an ICO sold out in a few hours raises the eyebrows. Lets say a DRK/DASH creates an ICO with its fundamentals supporting it, it would make perfect sense for an ICO to sel out in a few hours. On the other hand a coin with the characteristics that I posted a few posts back being sold out in a few hours does not make sense.
It is all up to the dev here to create the supporting fundamentals or it will fail. They have 25 BTC to do it with.
Your point is actually quite right. But i can confirm with my experience in cryptos, that this "mad" things could happen, and even more. I mean the fact that ICO went sold out so fast. This isn't the first time that an ICO on c-cex or any other exchange get sold out so easily and without any advice. That's simply how crypto works. You should know that many traders are a kind of gamblers, in some way. People likes to bet, as they do on dice games and casinos they do also with ICOs and investments. I also think that if dev would have made self buy that would be somehow stupid: first they have to pay 3 BTC fees to c-cex, so is already an expense. Then , as we can see in the trading history of EKN, the ICO has a lot of buy orders, little ones on the most part of it, this means that lot of trading fees are taken for all those orders. If you consider a self buy of ICO you can understand that this means more than 4 BTC payed with fees to the exchange and they would have nothing gained with a self buy.
I think instead, looking also at the following 24 hours of trading on the exchange, that EKN has good potential and the pump and dump scheme is not what they are looking for. Let's speak clearly: if they were here just to quick bounce profit they already would have dumped all their coins since there are some good buy support on C-cex. I will keep my eyes on this, i have a good feeling after all.
Keep this up.