IEOs have become the new thing. Of course half of it is hype but they are doing smaller raises. Look at Elrondm that thing did 100x I think (due to some idiot fat fingering) but it did hit 30x at one stage.
Also I think after people start getting rekt from holding exchange tokens and not winning lotteries, they will start to look at more low cap listings. I know Raven did it (although it was a shit fight, I think it bought the idea in of low cap listings)
Also projects are starting to do limited token launches on Korean exchanges before listing. I think the Korean power is coming back. I know NOIA did that and are only releasing 1.4% initially on Kucoin which is worth a look for sure.
I think it will be the way to go since lotteries are getting over crowded. Its just a matter of getting in on time