Top-8 Largest IEO: What’s Happening With Them for Now?

Gatechain Token and Armor Labs IEO Performance

Nowadays Gatechain Token is the undisputed leader with $83 million. This sum was raised through IEO. It was in early April. By the way, this token is a coin of the Gate.io Asian crypto exchange.

The exchange team launched this token on the Ethereum platform, but creators are going to transfer GT token to their own platform in the nearest future. Representatives promise to launch a testnet in the third quarter of 2019 and a mainnet as well as a decentralized exchange — in the fourth quarter of 2019. Thus, Gate.io wants to go the same way as Binance and to create its coin and DEX.

IEO Armor Labs was held on the site of Bgogo exchange. In addition, it was able to raise $40 million in April, 2019. The team of this project checks the security of various protocols, blockchains, and exchanges for a long time. The coin is traded only on the Bgogo exchange, paired with Ethereum, even though IEO was presented. Due to insufficient information about the project, we can not get known on what stage of development is the project now. As a result, the popularity fell and the capitalization has decreased to $600,000.

BlockCloud and BitTorrent Token Analysis

The third project for raising funds on IEO was BlockCloud. It is being developed by the Chinese company Shenzhen Oudmon Technology, which has been operating for more than six years and it works with the Internet of things. This company has more than 100 significant partners and up to 8 million of connected devices.

The head of this company believes that IoT and Blockchain are the ideal complement of each other, so he decided to develop his company in this direction.

IEO of this project was held on the OKEx crypto exchange. By the way, crypto community remember this event by the fact that traders and investors bought all BlockCloud tokens for $15 million in 1 second. Nowadays the capitalization of this project has decreased in almost two times, to $8,400,000, but active development is continued.

BitTorrent was the first IEO, so the hype around it was huge. All project tokens were bought in just 7 seconds and later brought investors up to 1,500%. As you remember, Tron bought BitTorrent for $100 million in December, 2018. Then the company announced IEO on Binance Launchpad. This news helped the TRX coin to double it`s indicators in just a few weeks.

Today the price of BitTorrent has dropped to the IEO price, which is only 5 Satoshi. However, the capitalization of this project is in 15 times more than IEO raised. Currently it stands at the level of $105,000,000.

VeriBlock, Binance IEOs and Overall Capitalization

The IEO of VeriBlock was held on Bittrex, occupied the 5th line. Creators develope this project four years long. Its goal is to increase the security of the Bitcoin network. In particular, the team’s primary goal was to protect the system from a 51% of attacks. Already, the project has MVP, and about 40% of all transactions in the Bitcoin network are carried out through VeriBlock. The price of this token, raised up to $7 million, continues to stay higher than with IEO — $8.8 million.

In addition, 4 of 8 projects were carried out on the Binance exchange. The credibility of IEO projects on this exchange is so high that all of 8 IEO projects have collected the declared hard cap. At the same time, from 10 to 20% of all participants received tokens due to the lottery, which was announced in spring.

In conclusion, only 6 of 8 IEO projects have a capitalization higher than the hard cap. What is more, 2 of them have increased in 10 times. These are BitTorrent and WINk. Armor Labs has got the worst indicators and it`s market cap is 85%.