A few months ago, I wrote about the SafePal token launch on Binance and the Launchpad. Back then, I wrote about how tokens were bought during the sale for $0,1 USD and as the token was launched, it started around $1,2 per token (the price later went up to $4 and dropped back to $2. Since then, it has stabilized around $3.
SafePal was a project I believed in and I even bought myself a SafePal (an alternative to the popular Trezor and Ledger cold wallets). But, then I noticed that a new Launchpad project was to be launched on Binance, Tokocrypto. The TKO token is the token of the Indonesian leading crypto exchange and it will have similar functions as other exchange tokens. It didn't sound at all as interesting to me as the SFP (SafePal) token. But, I guess there is something about Binance that makes me trust it all and even though I didn't really care about the token nor the project, I decided to try to join.
Binance is recording your amount of BNB tokens for a while, and based on your BNB amount, you will be able to register with your average number of BNB to the token sale. But, don't worry - so many people want to join the token sale that you are only accepted with something like 0,3% of the number of tokens you would like to join with. In other words, if you submit 100 BNB tokens to the token sale, you will only get tokens for less than 0,3 BNB. The remaining BNB tokens that you wanted to join with will be returned to your Binance wallet.
Luckily, the Launchpad is a quick thing. After checking your BNB holdings for a week or more, the entire sale is happening within four hours (this morning), then you get your tokens, and a few hours later, the token is available for trading on Binance.
So, the sale price was $0,1 per TKO token during the Launchpad sale. I got a few tokens and my only goal was to get rid of them as quickly as possible. I was hoping for a launch price around $1, which would give me a 10x return on my quick investment. I jumped to my computer five minutes after they opened for trading, and I was shocked to see the price at $2,9. I sold everything I had (which was very little), and I was happy to see my investment grow with 29x in a few hours.
Since then, the price has moved towards $3,5... but who cares? I am really happy no matter what.
I am curious to see if this will influence the BNB price. I have a feeling many BNB owners take immediate profit only to buy even more BNB tokens. At least the BNB token started a giant flight upwards after trading started for SafePal (that is when it trippled in value within a few days).
No matter what, this was just a quick report to let you know about the Tokocrypto sale on Binance. I hope you have found it interesting.
Anyone else joined in? Or anyone regreting that they didn't join? I would love to hear from you!
