Let's talk a little about Kanga Exchange and its market token (KNG).
Greetings to all readers of this great platform, especially to those who make life in the great community of #ProjectHOPE, in the present opportunity I want to talk about a topic that I found quite interesting the truth, and this goes referred to an exchange platform, which goes by the name Kanga Exchange, this platform has its own token, which has generated a large increase in value in recent days and this is due to several factors that I want to share with you and analyze if it can go up more.
 Screenshot taken at: Coingecko |
|---|
Each of the exchange platforms are characterized by specific situations, which can make them more recognized and be more used with respect to others, these particularities always make them special for users, in the case of Kanga Exchange has a very striking particularity and being one of the reasons that its price begins to increase strongly and this is related to the existence of physical stores where you can go and exchange or buy your cryptocurrencies.
In recent days, the price of the token managed to take a big leap in terms of market value, and that was due to another great initiative that they generated and was to make an IEO KNG, which is an initial token offering, and although the token was already on sale there was a special event for the acquisition of the same, which can be purchased at half price, with the large number of purchases that were generated in the token, it could be seen as its price rose, now well could you sell those tokens that were acquired at half price?
All the tokens that you have acquired without this great launch of half price, if they can be sold, but this initial offer of token, has its special features and this is directed to the prohibition of the tokens acquired for a certain time, which is 1 year and then 100 days for the release by parts, Now the funds raised would be used for the burning of token and for the stake of the same, in proportions of 50% for each purpose, taking this into consideration is that we have seen this great price increase in the market of this token which has been very striking and can really continue to raise its value in the market.
@tipu curate 3
Upvoted 👌 (Mana: 0/5) Get profit votes with @tipU :)
Dear @chucho27
Correct me if I'm wrong ... isn't Kanga exchange made by Polish developers? :)
(my ow people)?
If this is the case, then I would assume some level of trust. Scamming people in our country is not as huge problem as it is in majority of the world. So I would expect that if those are Polish developers then very unlikely they will try to steal and disappear with money that don't belong to them.
Maybe I'm just naive, but I've learned to trust my own countryman.
I'm actually not sure how I feel about tokens launched by exchanges. FTX launched their own one and it didn't end well. Binance has BNB and it's also hard to tell if they don't use their BNB holdings to show large reserves (by pumping price of BNB). This may also end badly.
ps. is their token listed on Binance? what is the name of their token?
Hope you're having great weekend :)
Cheers, Piotr
I am done with tokens launched by an exchange. It most times does not end well for investors.