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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

BNB Chain Projects Lead Binance Wallet With 2,000x IDO Returns

Rubmar Garcia
Rubmar Garcia
4 days ago
3 mins read
BNB

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As the BNB’s price continues to soar, BNB Chain projects are leading Binance Wallet’s top ten Initial DEX Offerings (IDOs) list with up to 2,000x historical returns.

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BNB Chain Projects Top Binance Wallet

The BNB Chain ecosystem has seen a strong performance recently, with the Binance Wallet leading among IDO launchpads in terms of profitability, driven by the massive returns of various projects built on the network.

According to CryptoRank data, the Binance Wallet has a current Return of Investment (ROI) of 4,495% and an all-time high (ATH) return of 7,976%, surpassing most IDO launchpads in multiple timeframes. Additionally, seven of the top ten tokens with the ATH IDO returns on the Binance Wallet are BNB Chain projects, with historical returns ranging from 20x to 2,000x.

Decentralized derivatives exchange MYX Finance has seen a 2,102x ATH IDO return, leading the BNB Chain projects on the Binance Wallet. CoinGecko data shows that the token currently has a market capitalization of $2.07 billion, ranking 72nd among all cryptocurrencies by this metric.

OKZOO, a decentralized AIoT (Artificial Intelligence of Things) network, comes second with a 413x return, followed by Alaya AI’s 40x, Myshell’s 36.8x, RICE AI’s 34.5x, Elderglade’s 24.5x, and Lorenzo’s 22x.

Meanwhile, multiple BNB Chain projects among the top 20 tokens by IDO return in the Binance Wallet have achieved returns of over 15x, including Meet48, MilkyWay, Allo, Particle, and Bubblemaps.

Dune data also shows that nearly two-thirds of Binance Alpha’s over 300 launched projects are BNB Chain tokens. Notably, the top five Alpha trading volume rankings are BSC projects, while eight of the top ten are from the BSC ecosystem.

BNB’s Price Ready For $1,000?

While the ecosystem surges, BNB, the network’s native token, continues its massive rally. The cryptocurrency is trading just 1.5% below its recent ATH and nearing the next crucial milestone, the $1,000 barrier.

After hitting its previous ATH in August, the token traded within the $840-$900 area, but retested the lows during the start-of-September retrace. Its price broke out of the three-week range on Friday, turning the upper boundary into support over the weekend.

On Sunday, BNB’s price surged to its $943 ATH before retracing to the $920-$935 local area. Market watcher CW noted that the cryptocurrency had formed a buying wall around $910, which served as support during the Monday retracement.

Yesterday, the cryptocurrency was rejected from the local high and fell out of its two-day range, retesting the $910 level before bouncing. BNB reclaimed the $920 support and broke out of the $935 resistance level again on Tuesday morning, currently attempting to turn it into support.

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A successful breakout from this level would set the stage for a price discovery rally continuation, which targets the $1,300 mark, according to analyst Ali Martinez. On the contrary, a new rejection of this level could see the price retest the range lows again, and risk a drop to the $900 breakout level.

As of this writing, BNB is trading at $936, a 7% increase in the weekly timeframe.

BNB, BNBUSDT
BNB’s performance in the one-week chart. Source: BNBUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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Ad discliamer

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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