WINk IEO Started Trading On Binance For 800% ROI

The latest IEO held on Binance Launchpad was also a profitable one, despite the concerns of many that the new format would decrease the returns. The WIN token began trading at 0.00000009BTC while its IEO price was 0.00000001BTC. 

800% ROI On Binance’s Latest IEO

The latest Initial Exchange Offering (IEO) held on Binance Launchpad was the blockchain-based gaming platform called WINk. The token which is sold, WIN, began trading at 0.00000009BTC, while the price during the IEO was 0.00000001BTC. This gave investors a nice return of 800% if they managed to sell it quickly enough at the discovery price. 

At the time of this writing, however, the price of WIN dropped to about 0.0000005BTC, which is still a nice return, given that there’s no real effort put into it. 

The main downside of those who decide to participate in the IEOs is that they have to hold Binance Coin over a specified period of time. In the case of the latest event, it was 7 days. Hence, if the price of BNB drops below the potential returns of the IEO itself, the investors could end up losing money, especially if they don’t receive any winning tickets. 

Over the past 7 days, the price of BNB dropped by about 5%. Hence, if an investor didn’t get any winning tickets, that would have been his realized loss. 

BNB/USD. Source: CoinGecko.

An Increased Amount of Winners, Smaller Returns

In an official announcement, Binance revealed that the total number of participants in the WINk IEO is 43,604. They had bought a total of 837,808 tickets, out of which 200,000 were winning. This puts the percentage of the winning tickets at 23.87%. 

To put things in perspective, the previous IEO, Elrond (ERD) only allocated a total of 10833 winning tickets which represented 11.07% of all tickets – almost twice as few. 

However, ERD saw a staggering increase of around 30x at discovery price, which is substantially more than that of WIN. 

On the other hand, however, the new format which allocates more tickets but allows for a smaller investment is supposedly better for average and smaller investors who can’t afford to hold upwards of 250 BNB over a specified period of time.

It remains interesting to see whether Binance will stick to the new format. If it remains as it is, for the next project users will have to hold BNB for 15 days on average in order to qualify and get tickets. This period will increase to 30 for the project after that. 

The post WINk IEO Started Trading On Binance For 800% ROI appeared first on CryptoPotato.

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