Several crypto tokens that had been jump-started via initial exchange offerings (IEOs) on Binance Launchpad are seeing a tremendous increase in prices—up to 455%—over the last month, according to crypto data provider Messari.
To date, Binance Launchpad, a token launch platform for “transformative projects,” successfully conducted 18 IEOs for 14 tokens such as Band Protocol (BAND), Perlin (PERL), BitTorrent (BTT), Bread (BRD) and others.
Cross-chain data oracle Band Protocol, for example, launched its 2.0 version on the Cosmos network in mid-June. Prior to that, it was already used by Binance to provide pricing data for more than 600 trading pairs. Currently, it is up 370% over the last 30 days.
Perlin, the second-biggest graduate of Binance Launchpad in terms of price increase, is a leaderless proof-of-stake smart contract platform that’s developing enterprise-grade blockchain tools and DeFi ecosystems. Among its partners are the National Institution for Transforming India, the International Chamber of Commerce, the Singapore government, the Dubai Chamber of Commerce and other institutions. It’s up 311% in the same timeframe.
The remaining projects are up between 1% and 200%, with the only exception of WazirX—which is down 9%.
The lull before the storm?
Speaking to Decrypt, Bobby