Harmony (ONE) Keeps the Binance Launchpad Tradition of Bringing Huge Profits to Investors
- Despite trading for less than 12 hours, Harmony Protocol (ONE) is already responsible for 96% of Binance DEX trading volume.
- The price 12 hours after open trading launched is sitting stable at 800% the IEO valuation.
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.
- The popular crypto exchange has decided to sell its business in Russia to CommEX, a crypto exchange business that was officially launched on Tuesday.
- Binance noted that it will fully exit the Russian market, and have no ongoing revenue split or any option to buy back shares in the business.
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- The company said it will be suspending its crypto-backed debit card service in the Middle East on 25 August, and in Latin America by 21 September.
- Although no reason was given for the decision, the company noted that “less than 1% of users” in those regions will be affected by the change.
- A spokesperson said the change was due to the “changing market and user needs”, and that Binance will now be refocusing its resources on its main products and long-term goals.
- Launched in March 2022, Binance Connect helped crypto businesses connect with the traditional finance system, and supported 50 cryptocurrencies and networks such as Visa and Mastercard.