Every day we see dozens of new ICOs enter the market
Do you think this is useful for the market and to what degree?
As we all know that ICOs were done to raise funds and awareness to the community about a certain project that is innovated into crypto world. ICOs is useful for it can spread the good name of crypto. The downside of these ICOs is the congestion of the network making fees higher.
In the past, MLMs (Ponzi) assumed under ICO is one of the reasons that the crypto market has increased dramatically over a period of time, but market is affected when all MLM projects are falling a dozen times earlier this year. Causing a lot of poor people to go away for a moment and the news sites are blamed for being all due to Bitcoin (the reason they lack the knowledge of cryptocurrency). And now many of the mainnet have been created to serve the ICO like NEO, Stellar, QTum, EOS, etc. It no longer congested the network as before.