Plasma’s $500 million raise led traders to declare “ICOs are officially back,” with comparisons to the speculative frenzies of 2017 and 2021, including references to “speedrunning 2017 × 2021”

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Plasma raises $500M in literal seconds for something that nobody seems to be able to describe in detail. This tells me that we’re back speedrunning 2017 x 2021.
pseudonymous trader IcoBeast wrote on X. “ICOs are officially back, and Sonar is likely the most impactful crypto-native release of 2025 for the direction of crypto.
Some traders see this as a sign that the initial coin offering (ICO) craze from 2017 is coming back.

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