During the start of last year, following the inception of the Binance Launchpad, IEO tokens, or initial exchange offering crypto tokens, became all the rage. They exploded onto the crypto scene with much hype, and rocketing values, and even helped each platform’s native exchange token thrive throughout the year. But after such an explosive debut, why are these altcoins reaching all-time lows? The Rise and Fall of the IEO Token In early 2019, the crypto market began to thaw out from its extended crypto winter, and many of the top assets in the industry began rallying. The rally was driven in part by Litecoin’s halving, oversold crypto assets rebounding after an extreme selloff, the Bitcoin safe haven narrative, and an explosion in interest surrounding initial exchange offerings and the platforms that provide them. Related Reading | Matic Dump Leads To Questions Over IEO Crypto Legitimacy But eventually, Litecoin’s pre-halving rally was erased, Bitcoin topped out and reentered a downtrend, and since then, IEO tokens have been tracking their way towards zero. One of the most popular IEO tokens during the initial hype has now reached an all-time low. Binance $ONE / BTC All-Time Low 0.00000047 broken
![]() Via https://www.newsbtc.com/2020/02/26/why-initial-exchange-offering-crypto-tokens-are-reaching-all-time-lows/ |
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