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.
I do not think it is over because binance is still coming up with good projects and if they maintain their quality in terms of new projects then i think the launchpad will keep performing well.
Recent depression was due to IDOs if we can call it as many projects rushed to raise funds at decentralized platforms like uniswap or bounce finance etc.