The Binance Magic: Fetch AI Token Surges 400% Following Successful $6M Fundraising
Today, as announced by Binance, Fetch.AI started trading following successful fundraising on Binance Launchpad. Exactly as BitTorrent (BTT) did before, being completed in just under 18 minutes and followed by a price discovery of over 600%, Fetch.AI is not disappointing its token investors, with a little over than 400% ROI on its fundraising price.
Binance Launchpad is the new hope
Fetch.AI (FET), just like BTT before it, held its token sale on Binance Launchpad, where it was offered in exchange for Binance Coin (BNB) for the participants. The token-sale was expected to end quickly and be successful, similarly to BitTorrent token-sale which was held a month earlier. However, the entire sale was completed within only 10 seconds, making it probably the fastest fundraising in history.
The project managed to raise approximately 100% of $6 million (69,204,152 FET), and 2,758 contributors funded it. In comparison, BTT sold $7.1 million in around 15-18 minutes, although the sale only lasted that long due to technical difficulties that the platform had experienced.
Fetch.AI price surges by 400%
Following the token sale, the tokens were distributed among the investors, and FET started trading on Binance a little over than an hour ago. The exchange already added several trading pairs, including FET/BNB, FET/BTC, and FET/USDT, according to Binance recent announcement.
The massive demand for the coin surged its price to over 400% compared to the fundraising price it had during the token sale. At the time of writing, FET price is at $0.383, or 0.00010030 BTC as per Binance. The fundraising price of FET was $0.0867.
Meanwhile, Binance users are waiting for the exchange to announce the next token sale hosted on Binance Launchpad. Earlier, Binance announced it expects to hold one fundraising per month throughout 2019. BTT and FET were announced earlier.
Meanwhile, the two hugely successful token sales show that the ICO model is still not dead and that there are eager investors who are willing in obtaining new coins, as long as they trust the project and of course, Binance.
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