Summary:
The CEO of Binance, Changpeng Zhao, has hinted on the possibility of a new IEO crowdfunding event via the Binance Launchpad. Mr. Zhao
made these comments via Twitter where he explained that the team at Binance was reviewing a few strong projects and that a decision on which will grace the IEO platform will be announced soon. The tweet by CZ can be found below.The last IEO crowdfunding event on the Binance Launchpad was Cartesi (CTSI) which was held on the 22nd of April this year. To note is that IEO events on the Binance Launchpad only accept Binance Coin (BNB) as the choice digital asset for participation.
This means that eventual investors of the IEO in the pipeline will soon start accumulating Binance Coin (BNB) to claim their tickets for the crowdfunding event. Additionally, savvy traders who trade based on major crypto events, will ride along and place BNB long positions.
Taking a look at the daily Binance Coin (BNB/USDT) chart courtesy of Tradingview, the following can be observed.
As with all technical analyses of Binance Coin, traders and investors are advised to place adequate stop losses to protect their trading capital. Furthermore, keeping an eye out for sudden Bitcoin moves is advised as BTC tends to dictate the direction of the crypto markets.