The cryptocurrency market is witnessing a resurgence of Initial Coin Offerings (ICOs) in 2025, reminiscent of the 2017 boom. Notable projects like MegaETH have raised $50 million in just five minutes, achieving a $1 billion valuation. Major players such as Kraken and Andre Cronje are also entering the ICO space, with Kraken launching MiCA-compliant token sales in Europe and Cronje planning an $800 million public sale for Flying Tulip. This ICO revival is driven by a demand for liquidity and regulatory changes, including the US SEC dropping its lawsuit against Dragonchain's ICO. However, experts warn of potential risks, with concerns that the new ICO era may favor institutional investors over retail participants, potentially leading to market instability. Despite the optimism, caution is advised to avoid repeating past speculative bubbles.