Binance’s initial exchange offering (IEO) platform, the Binance Launchpad, has quickly caught on in the wake of several successful offerings, helping drive the price of Binance Coin (BNB) to new all-time highs.
The Launchpad enables select projects to stage token sales, where qualifying investors are able to purchase the tokens before they are available to the larger market. These are often at significant discounts and are available only those who are holding Binance Coin at the time of the sale.
To date, the following token sales have been conducted on the Launchpad platform:
Given the selective criteria for conducting a token sale on the Launchpad, many investors seem to view the above projects as pre-vetted, high-potential opportunities.
As a result, the low-cap projects have seen impressive gains in recent weeks (and an impressive subsequent pullback), with MATIC leading the charge. Despite being down around 36% today, MATIC is still up over 400% since the start of May. BTT, CELR, and FET have also seen significant gains over the same period, as investors have poured in hundreds of millions of dollars in daily trading volume.
Notably, Binance’s early IEOs, GTO and BRD, have not participated in the rally to the same degree as the later projects and only have low-to-mid double-digit gains since the beginning of May. This may suggest that BitTorrent Token’s offering served as some sort of turning point in investor awareness, although that’s not entirely clear.
Binance’s next IEO, which features Harmony (ONE), a Cupertino-based project building a fully scalable and secure blockchain, is slated to begin on May 28 and has been referred to by some observers as the most interesting offering to date.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.