chepicap.com
KuCoins first IEO has come to an end with the successful sale of all tokens, and is now trading live on the exchange at 2x the IEO price.
While Initial Exchange Offerings (IEO) may be the new ICOs, they currently are not returning the sort of profits seen in the 2017/2018 ICO craze.
KuCoins first IEO, MultiVAC (MTV) recently went live for trading on the exchange, a week after the IEO was successfully sold out. The MTV coin is currently trading at exactly 2x the IEO price.
Read more: Kucoin sells out first Spotlight launch with MTV, $3.5 million raised
The benefit of the IEO is that investors, who are lucky enough to be the select few who actually get into the IEO, get to have their new investment listed on the exchange almost immediately following the completion of the IEO. This allows them to sell their coins immediately and flip the coins for profit. No delay or waiting times for exchange listings anymore.
This new method however, appears to take away from the hype and fomo seen during the ICO craze, coupled with a recovering bear market, the IEO is not exactly your 50x that was seen with several projects in the ICO bull run.
Read more: Huobi announces details for second Initial Exchange Offering on exchange
IEOs appear to be picking up steam with now more than half a dozen exchanges offering such projects on their exchanges. Binance will be looking to host their fourth IEO this month, with Matic, set to to run on April 24.