a lot of people selling below the ICO price why 
because some early ICO investors already in profit , they was buying time tokens when BTC was 680 - 700 USD per btc and now BTC is 1180 USD+
This is the issue in ICO investing, you see some people view their investment interms of BTC why some people are only concern about is the $$ valuation. You can't blame anyone that invested into the project when the price was in $700 range and decided to take profit is like blaming someone for selling is Bitcoin when the price broke the ATH
Mainly not only ICO investors but also bounty hunters are same as soon as they receive the coin and it gets listed first they see it their invested price and as soon as they get above it they sell it but smart investors sell everything and as soon as the dump is finish they buy back some coins from the profit so like this invested bankroll is saved for other project and they get profit converted to coin