And this is exactly the reason why many project have not listed their token on any exchange. Even those ones that conducted their public sales on exchange platforms such as dobitrad and Latoken. This is because they know ones the token is listed, it will practically get dumped most especially those one that offer huge discounts and also have bounty program. As far as the market does not recover fully well. It will be hard to make great profit from investing and coins will end up worth less
unfortunately this is the sad reality especially in this bearish market that the crypto community have witness for a very long time, suddenly, it feels like a normal routine of all token listed on exchange to go below 90% of their ico price before any meaningful increase will occur, such behavior of token this days now makes me wonder if its rather profitable to wait for exchange listing before buying any token one is interested on, because it is a known fact now that any token listed on exchange must first go through the process of been dumped before struggling to get back on it's feet. This is why it seem as if new coins are worthless although i don't entirely agree.