now most investors are not interested in the ICO project, because throughout 2018 there has been a significant decline in the level of public trust.
The risks are so great and only a few ICO projects that end up succeeding are a major reason why many investors are starting to be interested in other things.
Trust and risk are the major determinants that determine the size of funds that an asset receives. I believe that ICO had been very successful in 2017 and early 2018 but the prestige and fame was reduced by the appearance of scammers and fraudulent projects and that is the reason many countries banned it and this created the need for another fundraising mechanism which is now IEO.
most tokens price drop after listing on exchanges causing a lot of loss for the investors, so now they are reluctant to invest in ICOs.
Many ICOs were not able to hit exchanges on the other hand. I mean you are talking about failed projects and I am denting about intentional scams in the name of ICOs. When there were many failed projects, it is obvious that ICO investments are decreased by 5800% .