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.
To be honest the returns are still awesome and not seen anywhere else, i mean where else will you get 200-300% gains just in few days? Yes greed has no end but i think most people need to be grateful and not always complaining. I will consider these returns huge because all other ieos, icos have dumped way below ico prices while only binance projects have been able to show the profitable results consistently.