Binance launched its IEO platform Binance Launchpad. In January, BitTorrent (TRON) – initiated a token sale on Binance Launchpad and raised $7.2 million in less than 15 minutes, hitting the crowdsale hardcap.The second IEO on the cryptocurrency exchange’s platform, Fetch.AI, hit the hard cap of $6 million in just 22 seconds.Again we saw Celr and again within a span of few minutes the sale was over.But my question is how many people were being to buy ??These could be bought with BNB coin and thus we need to see its total manipulation and of course unfair.
Generally without KYC people are not allowed to participate in the IEO and that minimizes the number of scammers.But the main thing is that it is being having other effect for example good exchanges boost up the price of their own token and this is going to have a negative effect in the long run.Because generally in these case bots and exchanges do not allow people to participate and when listed in main exchange same phenomena PUMP and DUMP.Its better to stay away quite risky at present.
We need to understand the bigger picture here.Manipulations are being going on,and soon with the new DEX platform many projects are already migrating.So have to wait and watch.
