A champion's trophy

The latest Binance Launchpad token – Harmony Protocol (ONE) has not only matched, but also exceeded the early success of FETCH AI, Celer Network, BitTorrent and Matic. Sold at $0.003175 per token during the IEO lottery, it has reached and maintained a valuation of $0.026 in less than 12 hours of trading.

The hype was record-breaking during the IEO, and it is showing no signs of subsiding during open trading. The current market capitalisation of the token is almost $100,000,000 which is impressive, considering that less than 25% of the total supply is in circulation at the moment.

Whether the price movement will continue upwards remains to be seen, but the fact that previous Binance Launchpad projects have reached a valuation of 16 times their IEO price despite a slower start than the one Harmony Protocol has seen is currently driving buying pressure.

Binance Launchpad enthusiasm is starting to exceed the ICO FOMO of 2017, as Binance is staying firmly at the #1 spot for exchange volume. And with this latest addition there are further reasons for celebration.

The results of the Harmony Protocol IEO are not only indicative of trust in the established business of Binance and its Launchpad platform, it is also fueling interest in Binance Coin, the Binance Chain and the newly-launched Binance DEX.

The BEP-2 token on the Binance blockchain has become the best advertisement the decentralised exchange could get – as it is currently responsible for more than 95% of its daily trading volume, despite the fact that the ONE/BNB trading pair has only been live for 12 hours. The generous giveaway of 2,500,000 ONE and 3,000 BNB is also a major contributor to the instant success of the DEX.

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