This just came to my mind today as ive never think about it before, since bullrun happened in 2017 and ICO became popular and successful in that year too aren't you guy curious how IEO projects would have performed if bullrun was ongoing? IEO became popular after bull market of 2017 right? The reason why ICO was so profitable in 2017 was because of the altcoin season don't you think? What about IEO in altcoin season? We are yet to see this
Actually ICO and IEO are no different, just that ICO is lucky to appear at the time of the bubble of the crypto market, when the money flow is poured into the market a lot, so the projects are pumped significantly. . After the bubble burst, everything collapsed and the investors and traders community at Crypto market realized this manipulation and they will never be trapped easily again.
That is why there are so many speculators appearing at IEOs and constantly selling off when the tokens of the project are only x3 or x5. This makes the IEO trend quickly inhibited.