ABOUT THE TOP CAP OF INITIAL COIN OFFERING

Companies that intend to raise funds in virtual currency will sell tokens for pre-sales etc. before listing on the exchange. 

They are called pre-sales etc. and are done without going through exchanges.

There are various forms of private sales that do not go through these exchanges.

When you know ICO's pre-sales information via an acquaintance or social networking, you have to decide how reliable that ICO is. 

One of the criteria is the presence or absence of a cap.