Binance Coin Could Be The Next ICO Token

Binance Coin (BNB) is becoming a hot commodity, as investors buy the exchange’s token to participate in token sales on Binance Launchpad. It traded at $6 at the time of the BitTorrent (BTT) token sale, and broke the $10 mark only days before the Fetch.AI (FET) sale.

Binance Coin has since solidified its position in the top ten. BNB tokens were worth just over $15 at the time of writing, almost a 150% increase in price in little over a month.

Experienced investors may be feeling a sensation of déjà vu: those now buying BNB are doing something similar to those who participated in ICOs in 2017, and bought Ether (ETH).
In a discussion with Crypto Briefing, Binance founder and CEO Changpeng Zhao (‘CZ’) admitted there were “some similarities” between Ether and Binance Coin. Both tokens, he said, are primary currencies that allow the holder “to participate in initial sales.”

But he also emphasized there were “some significant differences” and in his view, BNB and Launchpad will change token sales for the better.

Binance has a lot to offer token sales projects, CZ said. As well as support and assistance, Launchpad gives access to the wider Binance ecosystem. “We offer more comprehensive support to blockchain startups that bring transformative value to cryptocurrency adoption,” he wrote.

He added: “Projects can issue their tokens on the Binance Chain, which is more simple and less error-prone than writing a smart contract code, and a chance to list on Binance DEX–voted by the community.”
Launchpad has been a surprising success. The platform has hosted two token sales, BitTorrent and Fetch.AI, both hitting their multi-million dollar cap.

Fetch.AI sold out in a matter of seconds, and participants have so far made fourfold returns on their initial investments. Had it not been for a technical glitch, the fifteen-minute BitTorrent sale would have finished equally quickly.