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.
In my opinion it will only be over for binance when they will start to list poor quality projects, newbie teams and confusing projects so as far as they keep quality as their priority while selecting a new project for the launchpad they will survive and please keep in mind that initial pump is no parameter to judge the quality or success of a new project. Let them deliver quality product and then you will see the real profits.