Binance Does It Again
Despite the Crypto bear market in 2018 and despite 70% of ICO projects failing, ICOs were still able to raise over $10 billion in 2018. This might be exactly why Binance launched their own ICO ecosystem called Launchpad. And it make sense...projects have immediate access to potential funding from Binance’s 10 million users.
Binance Launchpad’s second sale, Fetch.AI (FET), has just concluded within seconds of opening, suggesting investor demand for utility tokens has revived considerably.
More than 69M Fetch.Ai tokens were sold within twenty-two seconds of the token sale opening at 14:00 GMT on Monday. Binance founder and CEO, Changpeng Zhao, tweeted to say that within a matter of seconds – he says they had already reached their quorum with orders from investors. It took approximately eleven minutes for Launchpad to process and confirm the orders.
Fetch.AI is an artificial intelligence-driven, decentralized blockchain network. where digital entities that can transact without needing human intervention and can represent themselves, devices, services, or individuals.
The CEO of Fetch.AI Humayun Sheikh believes the internet today is for ecommerce solutions and what's needed is more autonomous machine based solutions. And that's where Fetch.AI come in, they are building the infrastructure to handle these solutions.
So with the successful launch of Bittorrent and Fetch.AI on Launchpad, how high can Binance go, lets go to the charts to find out?
After price hit the weekly supply at $4.00 back in November, price has been grinding higher.
The chart suggests to go long if price pulls back to the daily supply at $8.00, with a short term target at $15.00.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
That TA looks good to me. Binance has been bucking the trend for some time now - grinding it's way up the market cap ladder as a reward. I consider it to be a fantastic investment.
I second that.
Another interesting chart to see this progress is looking at the BNB/BTC pair which has amso gone through the roof. The reality is that Binance has established a foothold in the industry which wil be hard to combat. Given the tokens represent a feel of the fees at the exchange, many fundamental analysts will start looking volumes to get cash flows from the tokens to make valuations. It will be interesting to see where they land.
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I'm sure they will, but that's only half the story if you factor in platform growth, future BNB utility in the BInance DEX and whatever else they concoct for the future native token of the Binance chain. If people undervalue it based on fee savings alone (especially at current trading prices/volumes), then I'm just going to keep on snapping it up.
Great points, which is why Binance will be one of the tokens/coins that live on for a long time after this Bear Market.
Yes, I like Binance and its leader as they continue to innovate.
CZ is a great guy. I find his ideas about the future of crypto to be remarkably close to my own.
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