People invest the money in ICO projects because expect to receive after an exit of a coin one exchange bigger than have enclosed. But in 2018 and furthermore in the second half all coins which come to the exchanges at once go down in price. But last year it was very favorable.
ICO is very strong in the bull market. And that is why 2017 is the best year for ICOs, and now in the bear market, 90% of ICOs are down and the price is lower than the ICO. And investors are losing a lot of money to the ICO, and there are more ICOs scam than in 2017 with sophisticated tricks steal money from investors.