BNB Investors Remain Bullish on the Pending Binance IEO Announcement 12

BNB Investors Remain Bullish on the Pending Binance IEO Announcement

In brief:

  • Binance Coin investors are optimistic that details of the new IEO will be announced soon.
  • The last Binance IEO was held in April of this year. 
  • Since the initial announcement of a possible IEO, Binance Coin (BNB) has gained from $17 to $22.
  • BNB still has more room to grow in the crypto markets. 

Back in mid-July, CZ Tweeted that the Binance Launchpad team was reviewed a list of promising crypto projects in hopes of selecting one as the next IEO on the platform. The last time the Binance Launchpad hosted a crowdfunding event was in April. As a result, Binance Coin (BNB) investors have been waiting paitently for an announcement from the team providing details of the next one.

Binance Coin (BNB) Investors Remain Bullish on a New IEO

Since the initial announcement by CZ, Binance Coin investors have expressed their optimism with respect to the upcoming IEO. Furthermore, some have taken to social media to remind the Binance team of their promise to announce the details of the next crowdfunding event on the platform as can be seen in the following Tweet.

The theory that the Next IEO will be a DeFi Project

Additionally, speculation is high that the next Binance Launchpad IEO will be a DeFi project. This theory has been floated around as a result of the current DeFi boom as well as the recent announcement of the Binance Chain being integrated with ChainLink.

Binance Coin Consolidates at $22 After Breaking $19

The excitement and anticipation of a new Binance Launchpad IEO has positively affected the value of Binance Coin (BNB) in the crypto markets. When CZ made the announcement that an IEO was in the pipeline, Binance Coin (BNB) was valued at $17. A quick glance at the BNB/USDT chart reveals that Binance Coin has since broken the $19 and $21 resistance level with the digital asset now consolidating at the $22 price level.

With the details of the Binance IEO yet to be announced, the value of Binance Coin (BNB) could continue on its upward trajectory. If the general crypto-market environment is maintained, BNB could possibly break other resistance levels such as $23, $24.5, $26.2 or even the February peak of $27.3.

As with all analyses of Binance Coin (BNB), traders and investors are advised to have an eye out for any sudden Bitcoin price movements that might affect their trading positions. Furthermore, stop losses and low leverage are advised to protect trading capital from sudden volatility.