According to LongHash, IEO projects in several major online stores, such as Erlond and Perlin of the currency, and Pledgecamp of Okex, all conducted ICO or private placement in 2018. Suppose a project takes half a year to a year from ICO or private placement to IEO, and then judge how long IEO can last based on how many projects in the blockchain project in 2018 are not on the list. According to the 2018 Hypernum data, a total of 606 projects have been ICO or private, of which 396 projects are currently online. Some of the remaining 210 projects will not be issued, such as encryption analysis company Messari, chain Gods Unchained and other projects without token economy; some are liar projects or have closed, such as air currency ACG Chain, Emotiq created by the former AE's CTO. Therefore, it is conservatively estimated that one-third of the 210 projects are not able to issue tokens. The currency security launched the BitTorrent IEO in January, and the IEOs of other exchanges were officially opened in March and April, so the projects of 396 online exchanges were mainly digested in the past 5-6 months. . Therefore, according to projections, the remaining 210 projects may be exhausted by the exchange within 2-3 months.