3 Biggest 2019 IEO’s And Where Are They Now?

A review about the new sort of ICO’s, the IEO’s. What kind of projects have been offered on exchanges so far and how did they perform?

After experiencing the 2017 bullrun with all the ICO’s that came along, the entire market had its period of cooling down. Where most cryptocurrencies took a nosedive into the red, including bitcoin that went from its peak around 20,000 USD all the way down until around 3000 USD, that was not the currency that took the biggest beatings. As we have seen in the previous articles concerning the ICO’s that raised the most money during the 2017 bullrun, the returns do not lie. We have seen many cryptocurrencies dive as deep as -98% into the red. In fact, more coins actually went down than the coins that went up during this period.

Now some of the coins that actually did make some returns were all linked to a new phenomenon in the cryptocurrency industry; The IEO, short for, Initial Exchange Offering. With just a letter difference, the whole concept remains the same but it brings a little more security. Where during the ICO phase, projects had to use their funds to finance exchange listings, with an IEO the project is already secured of listing on the exchange that’s hosting the token sale. One thing is for sure, the investors are loving the new form of investing as studies show that IEO’s have collaboratively raised around 1.4Billion so far. Now before we zoom in on which projects that have come along the past couple of months, let’s see who the crypto exchanges are that are initiating these token offerings.

Binance Launchpad

Huobi Prime

Gate.Io

After mentioning a couple of projects in the description of the exchanges that are causing this euphoria, let’s move on to the list of the project that raised the most and let’s see what they have been up to ever since their token sale, their IEO, concluded.

3. Perlin — Binance Launchpad — Raised $53 Million

Perlin is an extremely ambitious project that’s aiming to revolutionize the $USD 11 Trillion international trade market that’s including the International Chamber of Commerce, Enterprise Singapore and Dubai Chamber of Commerce. They are building a highly scalable proof of stake smart contract platform that’s intended to process more than 31,000 transactions per second with a 0 to 4 second time to finality. These are all numbers and words we have heard before, but Perlin has actually partnered up with quite some impressive partners and has found backing from some big venture capitalists. There is no question that this company will be successful, but will it bring investors the returns that they are expecting? That’s a second question, that only time will tell.

2. Tron Game Global — Multiple platforms — Raised $80 Million

After opening their Twitter page, that led me to the Vietnamese version of Twitter, I found out that they are developing a debit card that can be used as a MasterCard. Next to that, I found a dodgy slideshow that would bring the people on the Tron Network great profits. It could be my research that’s wrong, but I am extremely glad I stayed far away from investing in the IEO on both LAToken and Coineal exchange.

1. Leo — Bitfinex — Raised $1000 million — 1 Billion

After listing on the Bitfinex exchange, and shortly after many other exchanges, the LEO token rose to almost double the IEO price of 1 USD. Currently, it’s sitting at a respectful 1.07 USD, slightly above the price that it was sold at in May 2019. The token is used as an exchange token, giving the option to reduce some of the token fees and for other utilities like lending and margin trading. Nothing extremely spectacular, but let’s see what the future holds.

The IEO cycle has been a wild one so far. Enormous amounts of money have been raised once again, where other projects have kept it fair and square and raised ‘only’ a couple of hundred thousand dollars. I am curious to see what the future holds for these projects. We have seen the performance of most 2017 ICO’s, now let’s see in a year or two what these projects will deliver. Will they accomplish their goals, or will we see new forms of exit-scams and other scenarios like we have seen too many times in the cryptocurrency industry. One thing is for sure, it’s never boring in this industry.

Originally published at changenow.io on September 12, 2019.

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