In the cryptocurrency world, there are always interesting changes and developments to keep an eye on. Whereas Initial Coin Offerings lost pretty much any traction in 2019, their successor has shown up in the form of Initial Exchange Offerings, or IEOs. The following major platforms all provide such token sales, and it seems the competition will continue to heat up as this formula gains more traction.
Most people will have heard of Binance’s Launchpad by now. This platform is specifically designed to facilitate IEOs on a growing scale. So far, several sales have been conducted with great success. All of these Initial Exchange Offerings are usually sold out fairly quickly. While that is a clear sign of success, it also creates some friction among users who were unable to participate due to the high demand. There is always a trade-off when it comes to services and platforms like these.
What is of more interest to investors is how all IEO tokens sold through Launchpad will also be available for trading on Binance shortly after. As such, the price for these tokens tends to spike during the first few days, after which the overall trading volume tends to taper off rather quickly. Given Binance’s reputation in this industry, however, it seems safe to assume their IEOs will continue to attract a fair bit of attention moving forward.
Bitfinex Dips its Toes
Not too long ago, a lot of people were surprised to learn Bitfinex would launch its own IEO platform known as Tokinex. This platform is supported by both Bitfinex and Ethfinex, as they will try to get in on the Initial Exchange Offering hype. It will be interesting to see which and how many tokens will be issued through this platform, albeit it is safe to say there will be some interesting action to keep an eye on. One also has to keep in mind Bitfinex may not have the best of reputations in this industry, although the company remains incredibly popular regardless.
It was a matter of time until major South Korean exchanges tried to get in on the IEO action. Bithumb, still widely considered to be one of South Korea’s largest cryptocurrency trading platforms, has its own Initial Exchange Offering solution. Conveniently, it is also known as Launchpad, which seems to be the go-to name for IEO solutions these days. Not too much information is known about which IEOs will make its way to this platform, as it seems this platform is only accessible to users in South Korea.
Bittrex Cashes in on the Hype
When it comes to established altcoin trading platforms, Bittrex is always an option to keep in the back of one’s mind. Similar to most of its competitors, the company decided to experiment with Initial Exchange Offerings in recent months. Some of its tokens ales include VeryBlock and Vodi X, both of which sold out pretty quickly. It seems more IEOs will be added over time, thus there is still something to potentially look forward to.
Huobi Prime Sees ups and Downs
It has been an interesting year for Huobi Prime so far. Despite successfully capitalizing on the IEO hype, the company had already had to deal with some minor backlash following its ThunderCore listing. In more positive news, its TOP Network IEO was met with a lot of excitement, as it seems that project is off to a decent start so far. There will be more token offerings in the future, but platforms always need to conduct a thorough research first and foremost.
KuCoin Spotlight for Initial Exchange Offerings
When it comes to KuCoin, the platform has undergone a rather interesting transformation over the past few months. After introducing its mandatory KYC requirements, many people assume the platform would see far less interest. That is not necessarily the case, as its Spotlight platform for Initial Exchange Offerings has received a fair bit of attention. So far, the most noteworthy IEOs on this platform are MultiVAC and Trias. It remains to be seen if more offerings will be added in the near future.
LAToken Brings Stiff Competition
With so many different major platforms providing access to Initial Exchange Offerings, one has to wonder how this industry will look in a few months from now. LAToken decided to get in on this action quite some time ago, as it has launched numerous Initial Exchange Offerings in the past few weeks. Additionally, the platform has also added numerous tokens for trading in April and May, thus it seems plausible to assume the near future will offer more of the same. This is good news for this nascent industry, although the hype will calm down eventually.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.