BNB investors remain optimistic about the upcoming Binance IEO
- Binance Coin investors are waiting to hear the details about the next IEO.
- The last Binance IEO took place in April.
- Some experts are speculating that the next IEO will be a DeFi project.
In July, Changpeng Zhao, the CEO of Binance, said that the Binance Launchpad team was reviewing some cryptocurrency projects to select one as the next Initial Exchange Offering (IEO) platform. Since then, Binance Coin (BNB) investors have been waiting to hear from the team to provide further details.
On this beautiful Sunday, our team and I just reviewed a few strong candidates for the next LaunchPad project. It's taken a while since the last one, but good things are worth the wait. Coming real soon.
— CZ Binance (@cz_binance) July 19, 2020
Since CZ’s announcement in July, some investors have taken to Twitter to remind the Binance team of their promise to announce the next crowdfunding event's details.
Hi CZ, when ieo ? when smartchain ? when staking ? pic.twitter.com/yUc4hC4dWS
— Min.bnb (@MinCapital) August 3, 2020
Some enthusiasts are speculating that the upcoming Binance Launchpad IEO will be a DeFi project. This theory has come to light because of the current DeFi boom and the recent announcement of the Binance Chain being integrated with ChainLink.
BNB/USD daily chart
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BNB/USD faced bearish correction after three consecutive bullish days, having gone down from $23.26 to $22.98. The price is hugging the upper curve of the 20-day Bollinger Band, struggling to break above it. The Relative Strenght Index (RSI) is currently trending in the overbought zone, showing that BNB/USD may face more bearish correction.
BNB/USD faces strong resistance at $23.45 and $23.97. On the downside, we have healthy support at $22.42 and $21.65.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
