in effect, if the tokens are cheaper on the exchanges, why buy them during the ico? if no one buys it during the ico, how does the project go forward? to be developed without funds? i think anyway ehf is already at a good point with fundraising...
It is the problem of 2018 for icos.
People don't want to buy because exchanges would be cheaper and projects can't gather Money because of that.
To be fair, 2017 ICOs were really overrated and money coming their way was too generous. I think what projects manage to raise now is the realistic amount. Just look at regular kick starters, they dont get nearly as much money ICOs got last year.