Binance has just completed its most recent Initial Exchange Offering (IEO) called Kava. The event brought a return of around 180% which is a shadow of what IEOs used to generate in the not so distant past. It also highlights the fact that if Binance is to keep these exchange offerings live, it needs to keep selecting quality projects in order to retain the interest of the investors and to make sure they won’t incur losses.The KAVA IEO On Binance Launchpad: 180% ROIThe Binance Launchpad just completed its most recent IEO called Kava. The project had a hard cap of million and sold KAVA tokens at a price of %excerpt%.46 each. 6.52% of the total token supply was distributed during the sale.Upon opening the trading session, the token surged in price. Against USDT, it was trading at around .2,
Topics:
George Georgiev considers the following as important: AA News
This could be interesting, too:
Chayanika Deka writes Ethena Labs Launches USDtb, Backed by BlackRock’s BUIDL Fund
Wayne Jones writes Prometheum Files Lawsuit Against Critic Matthew Blumberg Amidst Scam Accusations
Wayne Jones writes USDT Transfer Volume on TRON Reaches All-Time High of 7.2B
Chayanika Deka writes Lido Announces Phase-Out of Polygon Liquid Staking Protocol After Community Vote
Binance has just completed its most recent Initial Exchange Offering (IEO) called Kava. The event brought a return of around 180% which is a shadow of what IEOs used to generate in the not so distant past. It also highlights the fact that if Binance is to keep these exchange offerings live, it needs to keep selecting quality projects in order to retain the interest of the investors and to make sure they won’t incur losses.
The KAVA IEO On Binance Launchpad: 180% ROI
The Binance Launchpad just completed its most recent IEO called Kava. The project had a hard cap of $3 million and sold KAVA tokens at a price of $0.46 each. 6.52% of the total token supply was distributed during the sale.
Upon opening the trading session, the token surged in price. Against USDT, it was trading at around $1.2, which is pretty much its current all-time high value. This is an increase of around 180%
As it can be seen on the chart, the price pulled back almost immediately after and KAVA is currently trading at around $0.77. Despite the drop, the price is still up around 70%.
So far, it’s worth noting that every subsequent IEO on Binance has brought returns lower than the previous one, with a few exceptions. This is definitely a reason to worry because a lot of the people who are buying in those projects are doing it for the quick returns.
A Quick Recap And A Look Into The Future
Binance Launchpad started off as something particularly interesting and it yielded serious returns for those who participated in it, especially at the beginning.
Projects like TRON’s BitTorrent, Fetch.AI, Celer, Matic, and even Elrond, all brought some very serious returns to their investors. However, it didn’t take long for the things to cool off.
After numerous changes in the minimum token holding requirements, as well as the allocations per winning ticket and their overall numbers, Perlin’s IEO only had 5% of the participants win. Naturally, people were disappointed.
The IEO before this latest one was Band Protocol. It gave investors a return of around 380% but is already trading in the red and below IEO price.
All of this shows that returns from different Binance Launchpad IEOs are getting lower. Binance has to make sure that the projects that they pick up are interesting and credible in order to keep the interest and prevent them from dying out.
However, it’s also worth noting that the entire market is at a crossroads at the moment and a lot of the cryptocurrencies are incurring heavy losses, which surely has an impact on IEOs as well.