TKO Token’s IDO Smashes Expectations
Market strategists have popular advice for crypto traders: the initial coin offering could make or break a career. Making headlines in blockchain space, TKO Token penetrates the global market in grand style.
Upon its launch in the popular crypto trading platform, Binance, the Indonesian pride is an instant success.
Founders offered the Malta-based app some 75,000,000 or 15% of the total token supply of 500,000,000.
The offering price of $0.1 did not linger for long after traders hoarded some stocks before the price skyrocketed.
It recorded a more than 200,000 oversubscription on April 7. Moreover, it created more than 10 million buys during the day.
For the record, the new token is a brainchild of TokoCrypto, an Indonesia-based exchange for cryptocurrency.
CEO Pang Xue Kai noted that the launch’s success is a big achievement for them. Especially as they seek to unleash the untapped potential of blockchain technology in Southeast Asia.
For the record, analysts estimate that blockchain market size will jump by 83% for the period covering 2018 to 2023 period.
It is expected to reach a market size amounting to $23 billion in the next two years. This is due to the ubiquitous presence of decentralized platforms on payment options.
TKO is a hybrid coin that is both Centralized Finance and Decentralized Finance-enabled platform which is relatively rare in the international market.
It can serve as a regular financial platform. Particularly by offering services such as savings and deposit through TKO Savings, TKO Deposit, and TKO Cashback.
It also offers transaction discounts and merchandise redemption on the side.
TKO price in the Binance app surged as much as 3,000% to $10.00 a piece before steadying at $3.00.
It now eased further, down to an average price of $2.5 on April 9.
Analysts noted that given the volatility of cryptocurrency assets, the price could further ease in the coming days before settling to a steady price.
Along with TKO’s rise, controversial coin Ripple, which has a ticker symbol of XRP, breached past $1.00 per token after a nearly 100% surge.
The uptrend was followed by TRON, also known as TRX, after it hit $0.14 a piece from an average price of $0.5.
Blockchain technology has experienced undivided market attention over the past months, supported by growing institutional attention.
In a recent report, crypto inflows hit a record-high of $4.5 billion during the first quarter of the year, signifying that the asset will be here to stay.
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