While 2017 was the year of ICO boom, we can confidently say that 2019 is the year of Initial Exchange Offering hype. After all, it’s the year when Binance successfully launched three IEOs that were sold out withing a couple of minutes. It’s also the year during which over fifty IEOs were launched. And it’s the year when popular crypto exchanges such as KuCoin, Huobi, and Bittrex joined the bandwagon and started to launch Initial Exchange Offering platforms.
Simply put: 2019 is the year of IEOs.
However, not every IEO became successful and raised a great amount of money. Some of them failed, some were dead loss, and some hit a home run, showing to the crypto world that IEOs can be a great fundraising method. In this blog post, we’ll talk about the latest. So, let us introduce you to the biggest IEOs in 2019.
Bitfinex – plan to raise $1 billion?
Rumor has it that Bitfinex, a Hong Kong based cryptocurrency exchange, Sold out their IEO in order to raise $1 billion. The speculations heated up after Bitfinex operator iFinex issued a white paper saying that token sales will be made in Tether (USDT).
BitTorrent – the first ever IEO
The honor of being the first IEO goes to Tron’s BitTorrent. The IEO was held on Binance’s IEO platform – Binance Launchpad in two sessions. During these sessions, BitTorrent sold 59.4 billion tokens, while reaching the hard cap of $7.2 million took only 15 minutes.
Celer Network IEO – sold out in less than 18 minutes
In March 2019, Binance Launchpad hosted another successful Initial Exchange Offering. Celer Network managed to sell out its tokens in less than 18 minutes, raising $4 million. The interest in participating in Celer Network IEO was huge. Unfortunately, because of technical difficulties, not all users were able to participate in this token sale.
Fetch.AI – one of the biggest Initial Exchange Offerings on Binance Launchpad
Fetch.AI held its Initial Exchange Offering in February 2019, offering 6% of the total supply tokens for sale. Only the holders of BNB tokens could participate in the sale. Although 24,000 people pre-registered, only 2,700 investors were able to participate. The tokens were sold out in 10 seconds, raising $6 million.
Final thoughts
IEO has several advantages over an ICO. It’s safer, regulated, and trusted. Success stories above tell us that
Initial Exchange Offering could be the next fundraising boom.
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