As you may already know, FUN tokens spiked up over 10% today. This is due to the fact that Binance will be listing FUN tokens on September 28, 2017. Usually when exchanges list a new coin, the coin price tend to go up. There is a good chance FUN tokens will do the same due to a promotion being held on Binance.
The promotion: The top 206 FUN token holders by October 1 will receive additional FUN tokens as a reward. First place gets 300,000 tokens which equates to over $6,000 USD at current price!
2nd Place 200,000 FUN Token -- Over $4,000
3rd Place 200,000 FUN Token
4th Place 100,000 FUN Token -- Over $2,000
5th Place 100,000 FUN Token
6th Place 100,000 FUN Token
Even the 7th - 206th highest token holder get 10,000 token which is over $200! There will definitely be a lot of buying activity on Binance come September 28 as whales would try to capture the highest reward possible.
Source: https://binance.zendesk.com/hc/en-us/articles/115001754652
CAUTION: However, there is a HIGH chance of a sell off after the top 206 token holders receive their rewards on October 1st, 2017 at 10AM UTC. Therefore, I would recommend any traders to take profits before the reward distribution time and buy back your tokens after 10AM UTC.
There are also a few other catalysts coming up that could boost the price after October 1st.
For FUN token investors and traders, October should be an exciting month with lots of price movements