THELOGICALINDIAN - WazirX the latest IEO badge to be appear via the Binance launchpad has exploded in amount during its aboriginal day of trading on the crypto exchange
The agleam new crypto asset has now tripled in amount in bald moments afterwards trading went alive on the platform. What does this beggarly for the approaching of the new IEO token, or will it abatement to the same fate of the blow of the pack?
IEO Revival Hits Binance, Altcoin Triples in Value In First Day Trading After Launch
After the antecedent bread alms bang fizzled out due to red band and accident imposed by regulators like the United States Securities and Exchange Commission, a abandoned was larboard in the crypto bazaar for investors who were acquisitive to get in on the arena attic of a new altcoin project.
To ample this abandoned and serve crypto bazaar demand, Binance and abounding added crypto exchanges accept launched antecedent barter alms platforms advised to accompany new bill to the bazaar with added backing.
Related Reading | Exchange-Related Tokens Dominate Crypto ROI Last Year
The abstraction is that because the new IEO altcoin has added abutment from a big name exchange, investors are beneath at accident for avenue scams, and added issues arising from beneath agreeable founders and operations.
During 2019, IEO tokens exploded assimilate the arena with abundant hype, and alike acquired the built-in barter tokens for anniversary belvedere ablution new tokens into the market, to access in amount due to ascent demand.
Exchange tokens are appropriate to be captivated for traders to accretion admission to these new badge launches.
But while exchange tokens shined aftermost year, the IEO tokens that were appear are almost at complete losses now.
A above SEC arch alike alleged IEO tokens “unregulated crypto-casino fundraising mutations,” which could accept taken the drive out of the crypto bazaar initiative.
However, today’s barrage of the WazirX badge shows that IEOs may not be bottomward for the calculation aloof yet.
What is WazirX and Why Are Crypto Investors FOMOing Into the Asset?
After the acknowledged barrage of the WazirX token, the asset tripled in amount in the moments afterwards trading opened for the agleam new altcoin.
Interestingly, although the badge is congenital on Binance’s blockchain, the WazirX badge is an barter badge itself, built-in to the WazirX belvedere – who alarm themselves India’s most-trusted Bitcoin exchange, according the to platform’s website.
Related Reading | Former SEC Chief Calls IEOs “Unregulated Crypto-Casino Fundraising Mutations”
The badge will be acclimated to “reward” the platform’s association for allowance to accord to its advancing growth. Rewards accommodate trading fee discounts, voting privileges, admission to airdrops and abundant more.
