Reserve IEO Sold out in Seconds on Huobi, Impressive Returns for Swing Traders

Huobi Prime’s third IEO concluded just as quickly as the previous two – TOP network and Newton Project. This time, a two-round model was selected, with a significant price increase between them – 1 RSR token cost 0.000230 HT in the first round and 0.000423 HT in the second.

And once again, disappointment with the inability to enter the most profitable round is overwhelming on social media, as is often the case with IEO crowd sales. Still, it does appear than any willing user got a chance to buy some RSR during the second round.

Exactly 40 minutes after the conclusion of the IEO, open market trading began for the token. Its price in the first minute was 0.0014 HT – which is 6 times the price in round one, and 3.3 times the price in the second round. This inflated valuation didn’t last long and as early as the second minute of trading, one RSR was already worth 0.001 HT. Still, swing traders can be happy with the overall results.

While the initial trades were happening, Huobi took to Twitter to summarise the event. A total of 12029 users had the chance to increase their cryptocurrency holdings with a quick swing trade – or to invest in a project that if executed properly could bring stability in regions suffering from high levels of inflation.

As a whole, Huobi had a busy day, as the IEO was scheduled to begin shortly after a generous marketing event, which allowed users to buy small amounts of Bitcoin at its first real price, celebrating the 9 year anniversary of the first pizza purchase with BTC. A total of 188 BTC were distributed between 35,619 users.

The significant increase in trading volume and user base from all of today’s events appears to have prompted a number of modifications to the business model of the exchange. Immediately after the conclusion of the IEO, Huobi Global CEO Livio Weng commented: