According to @milesdeutscher, an ICO (Initial Coin Offering) is when a crypto project presents an idea and a whitepaper, then sells tokens—typically in exchange for stablecoins or major cryptocurrencies—to raise funding from investors (source: @milesdeutscher). He adds that ICOs are best viewed as the crypto market’s version of a traditional IPO, giving traders a clear frame for token-sale fundraising versus equity issuance (source: @milesdeutscher).

According to @milesdeutscher, investor demand for ICOs surged in 2017-2018 as billions of dollars flowed into token sales, creating ICO boom 1.0. Source: @milesdeutscher on X, Dec 8, 2025. For traders, this marks a distinct historical cycle where capital concentrated into new token offerings, serving as a benchmark when evaluating current token sale activity. Source: @milesdeutscher on X, Dec 8, 2025.