THELOGICALINDIAN - n-a
Binance Coin (BNB) is acceptable a hot commodity, as investors buy the exchange’s badge to participate in badge sales on Binance Launchpad. It traded at $6 at the time of the BitTorrent (BTT) badge sale, and bankrupt the $10 mark alone canicule afore the Fetch.AI (FET) sale.
Binance Coin has back caked its position in the top ten. BNB tokens were account aloof over $15 at the time of writing, about a 150% access in amount in little over a month.
Experienced investors may be activity a awareness of déjà vu: those now affairs BNB are accomplishing article agnate to those who alternate in ICOs in 2017, and bought Ether (ETH).
In a altercation with Crypto Briefing, Binance architect and CEO Changpeng Zhao (‘CZ’) accepted there were “some similarities” amid Ether and Binance Coin. Both tokens, he said, are primary currencies that acquiesce the holder “to participate in antecedent sales.”
But he additionally emphasized there were “some cogent differences” and in his view, BNB and Launchpad will change badge sales for the better.
Binance has a lot to action badge sales projects, CZ said. As able-bodied as abutment and assistance, Launchpad gives admission to the added Binance ecosystem. “We action added absolute abutment to blockchain startups that accompany transformative amount to cryptocurrency adoption,” he wrote.
He added: “Projects can affair their tokens on the Binance Chain, which is added simple and beneath error-prone than autograph a acute arrangement code, and a adventitious to account on Binance DEX–voted by the community.”
Launchpad has been a hasty success. The belvedere has hosted two badge sales, BitTorrent and Fetch.AI, both hitting their multi-million dollar cap.
Fetch.AI awash out in a amount of seconds, and participants accept so far fabricated fourfold allotment on their antecedent investments. Had it not been for a abstruse glitch, the fifteen-minute BitTorrent auction would accept accomplished appropriately quickly.
ICOs didn’t die
Just two months ago, few bodies would accept advancing a improvement in badge sales. A aerial cardinal of poor-quality offerings and a few bad actors destroyed assurance in the sector; investors lost confidence in ICOs.
The ETH amount fell at the aforementioned time as appetence waned. From $800 in May 2018, the Ether amount bottomed out $80 by mid-December. A report begin that appeal was crumbling because beneath bodies were accommodating in ICOs.
It was absurd that ICOs – or badge sales – would be absolutely finished, alike afterwards aftermost year’s performance. Crowdsales are still a accepted avenue for projects to accession money. Security badge offerings (STOs) are too absolute for accumulation accord from retail investors, and account badge sales can assignment so continued as they accommodated assertive requirements.
It was artlessly a amount of time afore investors began to participate in badge sales again. Binance had the apprehension to absolution its badge auction belvedere on the bend of this new trend.
Binance and Binance Coin accept already been on a arresting journey. If Launchpad can abide to host popular, acknowledged badge sales this year, BNB could become the new, bigger Ether of 2024.
The columnist is invested in agenda assets, including ETH and BNB which are mentioned in this article.
