There are many ICOs that are either past, current, or ongoing. Some websites have rankings for the top ICO for these categories. But should you invest in their recommendations on upcoming ICOs? Well, let’s analyze how they get their listing.
1. Hype: Many upcoming ICOs are ranked based on hype. But hype is what they are – inflation of realities. No matter how the ICO gain it’s public or media attention, if it doesn’t live up to the hype, then it will be a flop.
2. The project idea: When an ICO has a seemingly brilliant idea for the blockchain, ranking websites may list it on their top ICOs. This metric is quite good for ranking ICOs. But it is not just the idea but the implementation of the idea that makes the project failure or success.
3. The backers and the holders of the ICOs: When a prominent individual or corporation backs an ICO, it often makes the news and gets public interest. This is true with many successful ICOs with huge funds raised. Thus websites tend to rank ICOs like these on their list of top ICOs.
Following ICO listing website ideas on Initial coin, offerings could be sometimes misleading since they rank based on these metrics.