Binance has been a leading force with respect to initial exchange offering (IEO) evidenced by its extraordinary success in raising funds for crypto startupa via its Launchpad. The likes of Gifto, Bread, BitTorent, Fetch.Ai, Celer Network, Elrond, Perlin, Kava, Injective Protocol have successfully met their funding goals via Binance IEO.
My concern, however, is in the performance of its recent IEOs such as thoseof Injective Protocol(INJ) and Axie Infinity (AXS). In the past, investors are often certain of getting almost ×10 of their capital once the token is launched after IEO but these two tokens hardly did ×2 of their IEO price. Does it mean that the Binance Effect is already waning or has weakened?
AXS was sold at $0.1 at IEO price but only breezed to $0.29 briefly while INJ sold at $0.4 managed to hit $1.49 as its brief ATH. These results are unlike Binance's past IEOs which made investors jostle to get in to the launchpad.
Do you think that it the end of Binance IEO has come or the exchange would rediscover its earlier form?
Let me know your opinion.
Actually, Investors are more likely to invest in the DeFi project these days. Those token sales were mostly private sale or ICO. Actually, investors focus shifted that's why we have seen a small pump in the Binance IEO project. Also, the IEO trend is also fading up because small exchange also held IEO but they were not successful as Binance IEO.