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.