Binance successfully raised nearly $2.5 million worth of BNB through the public sale of ARKM tokens, with overwhelming investor interest and the token’s listing on their platform.
- Binance successfully completes ARKM token public sale, raising almost $2.5 million worth of BNB.
- 10,288 BNB tokens raised from 114,454 participants at a rate of 0.00020576 BNB per ARKM token.
- Massive investor interest with a commitment of 10.18 million BNB, resulting in an oversubscription of 990 times.
- ARKM token listed on Binance Launchpad and Innovation Zone, trading at $0.64 with significant increase from the initial selling price.
Cryptocurrency exchange Binance has successfully completed the public sale of ARKM tokens on behalf of on-chain analytics provider Arkham Intelligence, generating nearly $2.5 million worth of BNB, as announced by the exchange on Tuesday.
A total of 10,288 BNB tokens were raised from 114,454 participants during the sale, according to Binance.
The tokens were sold at a rate of 0.00020576 BNB per ARKM token, which equates to about $0.05 per token. A total of 50 million ARKM tokens were sold.
— Crypto Macro (@cryptomacro14) July 18, 2023
Massive Overwhelming Response from Investors
The token launch received massive interest from investors, with a combined commitment of 10.18 million BNB (valued at $2.45 billion), resulting in an oversubscription of 990 times.
While three investors reached the hard cap allocation of 300,000 ARKM tokens (approximately $14,865), their remaining allocation was redistributed to other users, as stated by Binance.
Introduction of ARKM Token on Binance Launchpad and Innovation Zone
The ARKM token was made available for sale through Binance Launchpad, the exchange’s platform for initial exchange offerings (IEOs).
Following the token launch, ARKM was listed in Binance’s “innovation zone,” a dedicated category for higher-risk digital assets with low liquidity.
Trading for ARKM is now available in various pairs, including ARKM/BTC, ARKM/USDT, ARKM/TUSD, ARKM/BNB, and ARKM/TRY. Additionally, zero fees are charged for limit orders (maker trades) on ARKM/TUSD.
In addition to the launch on Binance, ARKM tokens can also be acquired through an airdrop for early Arkham users.
ARKM Trading Price Performance
As of Wednesday’s press time, the ARKM token was trading at $0.64 on Binance and Uniswap, a decentralized exchange. The price has seen a significant increase from its initial Launchpad selling price but experienced a decline of nearly 7% during the day.
ARKM is described on its launch page as an “intel-to-earn token powering the transparency of the blockchain with AI.”
Binance’s research team explained that the project aims to incentivize the sourcing of data intelligence at scale and make it accessible to everyone in order to bring greater clarity and transparency to the crypto industry.