There are many examples of crypto projects that have followed precisely this pattern. Most recently, Waves — which traded at below ICO price in BTC terms for many months — has seen a spectacular increase in value as new functionality and partners have been added. From a 30,000 BTC or $16 million ICO, WAVES now stands at a market cap of 218,000 BTC or $600 million (700% and 3,800% respectively). These percentage gains are nothing out of the ordinary in the crypto world. Increasingly, the era of instant 3x or 10x rewards post-ICO appears to be over. For a well-funded project with a strong business proposition, though, it can easily still be achieved in a year.