IEO is not dead: Cartesi soared 550% immediately after being listed on Binance
IEOs are like a storm that swept the world in 2019 with the huge profits they bring to investors. Over time, however, in response to community requests, Binance changed the format of IEOs, making them much more accessible. This reduces profits, leading many to believe that like their predecessors – ICOs – IEOs are dying too.
However, the last few cases have shown that this was not the case. Binance today closed its newest Cartesi IEO (CTSI) which is bringing huge returns of up to 550% for investors.
CTSI rose 550% in listing
Binance Launchpad has just completed its newest IEO, Cartesi. The published IEO price for CTSI is $ 0.015. Immediately after the token distribution ended and Binance CTSI listed on its exchange, the price skyrocketed.
CTSI / USD. Source: Binance
As can be seen in the graph above, the price of the first green candle hit a high of $ 0.098, representing a gain of more than 550%. Despite the drop in prices, CTSI is still trading at around $ 0.069, about 360% above the public sale price. The performance against Bitcoin is similar.
This definitely proves that IEOs are not dead. The last IEO took place in February – WazirX, which offered similar returns as the token price soared 700% after the listing.
What is impressive, however, is the exceptionally low number of winning tickets. In the last IEO it was only 4.82% or 7500 tickets.
Meanwhile, WRX recorded a total of 7.31% of the winning tickets and the previous IEO – TROY, had 22.57% of the winning tickets.
It will be interesting to see where the IEO market is taking us and whether this trend will continue to grow. However, it seems that as the number of winning tickets decreases, the winnings increase.
Disclaimer: This information is provided as a personal blog and not as general information or investment advice. We are not responsible for your investment decisions.