1. Revaluation of the current project cost in the ICO phase
2. Inflationary factor, a large percentage of tokens not participating in the distribution
3. The project and the Team do not have significant incentives for development, money is received you can relax.
Or money they received, then they can do exit scams.
And that is the sad stage of many ICO projects right now, too many scammers, projects are just hype with no real life usage, no fundamentals, and just pure pump-and-dump schemes.
And even though we have high lighted the flaw of their business model, still they hasn't change a bit and since now we have IEO's, pretty sure they will die slowly.