Crypto Trading 2017, page-1651

From that same ny article -

"Investors are buying Ethereum and Bitcoin to invest in so-called initial coin offerings, a new method of fund-raising in which entrepreneurs create and sell their own virtual currencies.

Such offerings have continued to come onto the market despite warnings from regulators that some of them may violate securities laws."

Another reason for the cryptos rally in july august when the price doubled , i believe the number of icos is well over 200 now.