Native tokens of Major cryptocurrency exchanges are moving the upside graph of Coinmarketcap following their interest in trending IEO concept. One of such token is KuCoin shares from KuCoin exchange which gains higher value after hosting the first project on Spotlight (The name of KuCoin’s IEO). At the moment, the KCS token has gained 15.17 percent over the past 24 hours.
While Bittrex Suddenly Cancels its First IEO of RAID project, KuCoin took a leap with its Spotlight for a project called MultiVAC. Reportedly, the project is the first of its kind that hosted on KuCoin Spotlight platform. Interested users must hold KCS token and participate in MultiVAC Spotlight/ Initial Exchange Offering – increasing interest in KuCoin’s first Spotlight is likely the strong reason that influenced KSC’s market cap.
Let’s put our Spotlight on MultiVAC!
It’s my pleasure to introduce the pioneering all-dimensional sharding and flexible blockchain to you: MultiVAC, which is also the first project of KuCoin Spotlight. pic.twitter.com/1a3maI8AHM
— Michael Gan (@gan_chun) March 25, 2019
Accordingly, the exchange had successfully completed the Spotlight of META token. Speaking the similar regards, CEO Michael Gan also shared yet another announcement;
We will release the first Spotlight project within 24 hrs. Our derivative trading platform KuMex is also on the way and KCS will play a key role in it. Please stay tuned!!
KCS Token is Rising
As per the data provided by Coinmarketcap, KCS stands at 55th position with the value $1.31 US Dollar. Moreover, the average market cap of KCS token counts $117,746,520.
However, IEO is as equal as Binance’s launchpad – Indeed, Binance is the early player in the crypto market to capture major crypto community with its new updates such as Binance Launchpad, Binance DEX, and Binance Chain. As Coingape reported, OKEx is also following the footprints of Binance exchange and announced its native blockchain called OKChain, OKDEx (decentralized exchange) and OKJumpstart.
So readers, do you think IEO is an effective concept in against ICO? share your thoughts with us.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com