Aside from fraud and opportunistic token issues (i.e. tokens without any real inherent, functional value), this is the next big risk on the ICO landscape, in my opinion. Hedgefunds are simply in this for a quick buck. Their ability to buy in bulk at lower rates along with the capacity to perform massive limit sell dumps when and if they need to, renders any token - with a genuine business model behind it or otherwise - vulnerable to price manipulation and distortion.

And if this happens often enough, particularly without ICOs setting upper limits on inward investment, and without any regulatory frameworks, this these risks all combined could kill the ICO phenomenon - and by extension - the general momentum of Blockchain technologies. And that would be a shame given their revolutionary potential to shift business, sciences and the arts into a new mode of development that opens the door to transparency and integrity that arises from trustless platforms.