ICO snow-sphere is growing fast, yes.
And there are interesting ones, from time to time.
For instance, I stepped into the first stage of EOS, made 600% next day dumping it. Still waiting to rebuy some back.

Existing projects are much more interesting to invest in. Less risks, proved projects.
And they are still falling, atm, mainly.

I would suggest to keep an eye on real projects, already at exchanges and buy when price trend will change to rising.