Binance Coin (BNB) Price increases 17% Following changes in Launchpad's sales format

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Binance Coin (BNB) Price increases 17% Following changes to Launchpad's sales format

binance-coin-bnb price overruns-17 consecutive change-to-launch package-s sales format

Sunday, March 24, the price of BNB tokens increased 17% to $ 17.28-after the announcement of a New token sales format for Binance Launchpad – before falling to $ 16.77, remains an impressive 10.77% increase over the last 24 hours.

There is no doubt that Binance Coin (BNB) has been a star player in 2019. Until today, success can be attributed mainly to the following factors:

  • The furious pace of growth (new features, such as buying support of crypto via debit / credit card and expansion to new markets) by Binance makes it very difficult for competitors to continue.
  • Steals market shares from the competition, which has led, according to the latest resource earch report on Bitcoin (BTC) trading on spot exchanges by Bitwise Asset Management – to Binance having the highest "real" daily BTC volume ($ 110 million, or about 40% of the total "real" BTC daily trading volume) among the 10 encryption exchanges that report actual / actual trading volume.
  • Upcoming moon launch for Binance Chain means that BNB will migrate from the Ethereum block chain to its own native blockchain, and of course the launch of Binance DEX (operated by Binance Chain) is good for BNB since gas and fees have to be paid in BNB .
  • Great popularity of the newly launched token launch platform Binance Launchpad and the successful token sales on this platform over the past few weeks have created additional demand for BNB since, with the exception of the BTT token sales, other sales have required payment for token purchase in BNB.

In this article we will focus on Binance Launchpad. The low starting price for tokens launched on the Binance Launchpad has created such a high demand (in each token sale this year) that it has resulted in many disappointed investors not being able to buy tokens on this sale.

To give more people a chance to participate in these token sales, Binance decided to use a new lottery system, details that it announced earlier today:

The net result of the new sales format on Binance Launchpad is that it encourages HODLing BNB since only people who have had at least 100 BNB in ​​The last 20-day period before a token sale has a chance to win "lottery tickets" required to participate in the sale.

Naturally, the market took this as good news for BNB and reacted accordingly. According to CryptoCompare, the BNB price increased 17% from an intraday low of $ 14.73 to an intraday high of $ 17.28, before falling to $ 16.77, which is still an impressive 10.77% increase in the past 24 hours period:

  BNB 24 Hour Chart - 24 March 2019.png

Featured Image Courtesy of Binance

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