Binance Launchpad delivers another successful IEO with Elrond project

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Binance Launchpad’s regular sale token events have already entered into some sort of public consciousness and the recent launch of Elrond project can only confirm why Binance is now seen as a positive influencer of the blockchain space.

Let’s look at the numbers surrounding the recent Binance Launchpad lottery conducted for the Elrond project.

According to Binance, we had a total of 97,817 tickets that were claimed by 40,462 customers. Out of these, 10,833 were winning tickets from 10,496 participants. One participant in the Binance Launchpad lottery for Elrond was able to claim no more than 5 tickets.

Those who were lucky enough to have a winning ticket received about 461,528 ERD (Elrond coin) per ticket with the corresponding BNB tokens to be deducted in the following day from their account balances.

As we got used to with Binance Launchpad token sale offerings, the exchange will soon start the ERD trading sessions for the following pairs: ERD/BNB, ERD/BTC, ERD/USDT, ERD/PAX, and ERD/USDC.

This is the 6th Initial Exchange Offering from Binance that respects the lottery format which was created several months ago to restrict large players or whales from accumulating too many tokens that were subsequently used in various pump and dump schemes on the exchange.

Elrond is a blockchain-based platform that takes advantage of an advanced scaling technology called sharding to offer superior throughput for decentralized applications. Back in May, Elrond launched the testnet which indicated an impressive number of 12,000 TPS. Elrond expects to receive on its platform applications that look to provide a high number of transactions to a large pool of users.

Binance works hard to attract traders and investors to new blockchain-based projects in order to diversify the industry and promote new products and services. However, at the moment, Bitcoin is back on its path to new highs with a market cap at over 60% apparently taking over the industry. Is there any room left for new projects in the future market? Only Binance can answer this question.

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