Launchpad Tokens are Seeing an Increase in Price According to Binance

December 5, 2019 1:35 AM UTC

The latest Binance ‘Markets Overview’ report talks about the month of November, derivatives and lending markets as well as staking markets.

The report states that November has clearly not been a very good month for Bitcoin and cryptos in general, especially after the recent $50 million hack of the Upbit exchange or Chinese exchanges shutting down.

More importantly, the report states that November was a great month for launchpad tokens and that starting at around November 25, several tokens have seen a pretty significant surge in price. Binance uses MATIC as an example, the digital asset almost doubled in price in the span of a few days.

We decided to take a look at taker buy-sell ratio data from our exchange for Matic Network (MATIC), Fetch.Ai (FET), Elrond (ERD), Band Protocol (BAND), and Harmony (ONE) to see if certain regions may have spurred the rallies but found little to no correlation.

Binance also stats that the demand for Launchpad tokens has been higher than usual and that privacy coins have also seen the same demand in the last month.

Binance has been recently adding staking support for a good number of cryptocurrencies, the latest one being Tezos (XTZ).

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