Although the market is decreasing but there are many things going on in Europe. So it made many investors create more ICOS to compete with other ICOS. The crypto world is a great place for ICO development and never stop.
ICOs are now being created for the sole purpose of scam, without any really good ICO since 2018. They are just trying to create so many ICOs and make a lot of money from it. Then they will leave it and create other ICOs, and it will be repeated