The cryptocurrency industry has seen numerous interesting trends. Over the past few years, ICOs were all over the place. They are now slowly being phased out in favor of STOs, or Security Token Offerings. One company reaping the benefits from the ongoing interest in token sales is Binance. Their next “crowdsale” revolves around Celer Network, a layer-two scaling solution focused on transactions and smart contract technology.
Another Binance Launchpad Sale Looms Ahead
In the past few months, there has been a growing interest in Binance’s Launchpad. For those unfamiliar with this platform, it is a platform where tokens ales can be organized. Although the number of projects choosing this option has remained fairly limited, all token sales prove to be extremely successful. BitTorrent Token and Fetch.AI both sold out extremely quickly and made speculators a fair bit of money in the process. How successful either project will be in the long run, is a different matter altogether.
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The next token sale on Binance Launchpad comes in the form of Celer Network. This self-professed layer-two scaling solution focuses on off-chain transaction and off-chain smart contract performance. Anyone can build decentralized applications on top of this off-chain scaling solution. The team behind Celer Network believes their project can unlock the full power of blockchain technology and dApps. Quite the label to live up to, yet some initial success has been noted.
Under the hood, Celer Network boasts quite a lot of potential. It has achieved significant transaction latency reduction during previous tests. Moreover, it provides zero-fee off-chain smart contract support, and introduces an optimal off-chain payment routing algorithm. As such, it is a solution many different existing cryptocurrencies would certainly benefit from. At this time, Celer Network is blockchain agnostic, and supports Ethereum and other EVM-based blockchains.
During the Binance Launchpad token sale, a total of 597,014,925 CELR will be up for sale. The event will conclude when the hard cap of $4m is reached, which probably won’t take that long. Users can participate in this sale through the Binance Coin asset, also known as BNB. It is this BNB token which has gotten a lot of attention lately, primarily because of its role in these token sales. The BNB price has seen a major price surge in recent weeks.
As is usually the case during token sales, client sin dozens of jurisdictions will be unable to participate. That list includes customers in Canada, Mainland China, and the United States of America, among many others. Users will also need to complete their Binance identify verification process prior to partaking in the sale. That process should not take too long, as users still have eight days to complete this process.
How successful this new Binance Launchpad token sale will be, is difficult to predict. The two previous sales shattered expectations in a promising manner. However, not every sale will be the same, even though there is a lot of good money to be made. If the Fetch.AI token sale is any indication, investors can easily expect a 5x increase in their investment. Even so, that market ha snow crumbled under its own weight, causing the value to drop below $0.23 down from $0.37 in just a few days.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.