In some cases where a token price crashes soon after listing on the Exchange, the blames has over time been attributed to the bounty hunters and sometimes to early investors that received certain bonuses.
Do you think 40% bonus for early investors is too much and capable of crashing token price?
I think it depends on the potential of the project being invested. I have joined an ICO before which offers an additional 60% from your investment but never got returns from my investment because the project never took off. Ironically, my investment in a crypto project that just gave 25% bonus gives me multiple returns. The potential of the team and the project I think is more important.