According to The Block, research shows that although some IEO projects have achieved great success, most are not suitable for investors. 1. About 180 blockchain projects have raised funds through IEO, and there are currently 40 exchanges that conduct at least one IEO; 2. A total of 28 legal exchanges have conducted IEOs, of which 18 exchanges have positive returns. . It is worth noting that less than half of these projects outperformed Bitcoin; 3. Coin's IEO project has a better return than other competitors, but four less well-known exchanges dominate 45% of IEOs. Project; 4. The vast majority of IEOs are speculative. In 2019, 12 projects brought 500% return to investors; 5. Because most investors just sold at a higher price in a few months. The tokens are held, so most IEO projects cannot maintain their prices for a long time. Since the price of IEO tokens has reached a record high, about 75% of projects have fallen by about 50%, and 39% of projects have fallen by more than 75%.