The main reason why the price of ICO tokens in 2017-2018 was listed higher than the ICO price was that the community's expectations were too high, they were too used to x5, x10, x50 or x100 right after the token was issued & listed.
Now the community has more experience, and they understand that projects are all long-term, at least 1-5 years, not a way to make money quickly like before.
Immediately after the end of Token-sale, most projects lost their popularity because they were no longer promoted, they could not immediately create products for the community, which caused the token price to decrease when be listed.
P/s: Please don't blame bounty hunters
