AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Binance launchpad explained10/10/2023 It isn’t unusual to see steep price falls as soon as a token is listed following an ICO, and this is often caused by members of the founding team ‘dumping’ (or cashing out) their tokens in the marketplace. The first one is to control prices after the token sale period. There are two main reasons for this type of token lockup. The last batch was scheduled for release in July 2021. Therefore, the founding team got an 80M token reserve, 20% (16M) of which was to be released immediately after the ICO, and the remaining amount to be released in equal batches of 16M for four years. The other half was reserved for the Binance team and angel investors in a 4:1 split, respectively. Token allocationĪccording to the Binance whitepaper, only half of the 200M BNB tokens were sold to the public during the ICO. This was a deliberate plan to create artificial urgency for investors to buy the tokens sooner rather than later.Īt the end of the token sale, all 100 million BNB tokens were sold off at an average of about $0.15, bringing in around $15 million. In the second and third phases, that rate was reduced to 2,500 and 2,300, respectively. The first phase happened between the 1st and 7th and saw the sale of BNB tokens at 2,700 tokens to 1 ETH coin. According to ICO documents, the BNB tokens were scheduled for sale in three phases, each lasting a week. The ICO was held within three weeks, starting on July 1st and ending on the 21st. The Binance team, led by its current CEO Changpeng ‘CZ’ Zhao, conducted an initial coin offering to sell BNB tokens to interested investors. ![]() This is where the Binance coin came in handy. The history of BNB Binance ICOīinance exchange launched in July 2017, but before the launch, the exchange needed to raise necessary funds to run the business. eToro USA LLC does not offer CFDs, only real Crypto assets available. The value of your investments may go up or down. Binance no longer supports the ERC-20 version based on the Ethereum blockchain, and all holders of this version are advised to swap it for either of the other two.ĮToro is a multi-asset investment platform. It is, however, important to differentiate between each to avoid losing your tokens between transfers. They are different versions of the same token, serving the same purpose. There are, therefore, three versions of the BNB coin in the marketplace: ERC-20 BNB tokens (used during the ICO), BEP-2, and BEP-20 tokens. In 2020, the exchange launched another parallel chain called Binance Smart Chain, on which it created, yet again, another version of BNB using a newer BEP-20 standard. In 2019, Binance launched the Binance Chain, a blockchain network on which it issued a new version of BNB tokens using the BEP-2 standard. Despite its humble background, BNB has grown to become more useful within the Binance ecosystem. Binance raised about $15 million from the ICO, and over 100 million tokens of BNB were distributed to the public. As a utility token, it would enable its holders to claim trading fee reductions on the exchange once the platform launched. The token was launched in July 2017 to be used as a tool for crowdfunding in the Binance ICO. Binance exchange is currently the leading cryptocurrency trading platform in terms of daily trading volume, and BNB is used to pay for trading fees, among other things, on the platform. While the value of BNB is volatile, BUSD is designed to be as stable as the US Dollar, making it a hedge against price volatility in the crypto market. To learn more about the Binance exchange, be sure to read our comprehensive Binance review.īNB is a cryptocurrency native to the Binance ecosystem. We will discuss more on BNB below, whereas BUSD is a stablecoin whose value is pegged to the US dollar currency. Even though they are both issued by the Binance crypto exchange, they are fundamentally distinct and serve different functions. Binance Coin (BNB) and Binance USD (BUSD) are not the same. It is important to differentiate between the two assets. In the Binance ecosystem, another digital asset exists called the Binance Dollar or Binance USD (BUSD). During its all-time high (ATH) date, it reached a market valuation of $103 billion. BNB is now ranked among the five most valuable digital assets with a market cap of over $55B. An investment of $1,000 during its Initial Coin Offering (ICO) in July 2017 would have multiplied to a massive $4.5 million as of May 2021, when the coin reached its current all-time high.įew other coins have seen such return on investment ( ROI) multiples over their lifetime. Introductionīinance Coin (BNB) has been one of the most profitable investments of the last 4 years in the cryptocurrency market, registering returns of over 450,000%. ![]() EToro is a multi-asset investment platform.
0 Comments
Read More
Leave a Reply. |