Just recently i noticed a common trend with almost all ICOs.
There have been lots of complains that bounty hunters dump their tokens immediately after receiving them. Although, it is not true for all bounty hunters. Some still hold theirs.
Investors now get their tokens before bounty hunters. They are also allowed to start trading before bounty hunters get their rewards.
I believe this will prevent the investors from complaining and blaming the dump in price on bounty hunters.
If this is the trend, that investors are allowed to sell before the bounty hunters, ICOs would be just a means for short-term investment. With the majority of the coins selling their hodlings right away, I think the project will not prosper because investors sell off their share.