IEO Returns High as Ever, Akropolis Investors Get 12x Their Money in a Day

Huobi Prime has established itself as a worthy competitor of Binance Launchpad, as these are the two platforms that manage to attract the highest quality new token projects. Following the success of Reserve Rights – a project backed by Peter Thiel, Sam Altman from YCombinator and Coinbase Ventures – the launching platform of the Singapore-based exchange announced its next offering – Akropolis.

Akropolis is a member of the Enterprise Ethereum Alliance which aims to provide global availability of financial services, enabling trust-minimised value transfers and simplifying the establishment of autonomous financial organisations (AFOs). It is part of the Polkadot ecosystem and its partners include Maker, W3F, Polkadot and numerous other established players in the blockchain industry.

Thus the high interest in the token offering was all but unexpected. Still, the price hike following the end of the crowd sale exceeded expectations, as mere hours after open trading was launched, one AKRO token was worth more than $0.06 – upwards of twelve times its initial IEO price.

The IEO procedure itself was a mixture of the previous participation rules of Huobi Prime sales and those of Binance Launchpad. The multiple sale tiers seen in the RSR IEO were still there – except this time the first round utilised a lottery mechanism, similarly to the sales of Harmony (ONE) and Elrond (ERD) tokens. The second and final round allowed every willing participant to buy a small amount of tokens – a tradition on Huobi Prime that continues to keep customers happy.

A grand total of 8368 Huobi users got a chance to quickly multiply their money within a day. Bearish market conditions didn’t stop buyers from offering twelve times the IEO price of the token in order to acquire some. While many coins have been struggling for the past week, any clickbait news headlines about the death of crypto are once again greatly exaggerated. And this time not just technology wise – as the IEO trend clearly shows buyer’s hype is also far from disappeared from the market.