Currently Lot of ICOs conducting Sales failed to reach hard cap. Some failed at Soft cap leading to reversing of Funds to investors. ICOs Like Civic , Codex , trivier, decibles, etc. It was also observed that Most projects delayed token distribution and Exchange Listing. SHOULD I say they are scared of been dumped. Some have been conducting Sales for over 6-7 months. generating all sorts of names just to raise Money,Which shows a clear signs that HARDCAP and SOFTCAP was Not archived.
What could possible be the reason behind this Failures ??
What do you expect when we have so many ICOs in the crypto space, there will be competition for sales. So the one that seem more appealing to the investors will be the one to sell more.
As regards Codex, the project is a good one with good usecase. The decided to halt the ICO themselves, even before time. They had made some good amount of money, but decided not to proceed with sales again.
At a point, some investors were persuading them to continue with the ICO and not return fund.