Cryptocurrency exchange BitMart announced that they sold out the Bicoin Token (BCT) in their Initial Exchange Offering (IEO) in 20 seconds from the start, to a total of $300,000 USD supply on the first day of the sale. The BCT token was sold at the price of $0.027 USD. For people who failed to purchase BCT on the first day, BitMart will open BCT sale for another two days, with a total supply of $500,000 USD and $200,000 USD respectively.
The Bicoin Token (BCT) Sale
Bicoin is a one-stop cryptocurrency trading ecosystem that provides business including Bicoin token, Bicoin Trading Version, a platform for aggregate exchange, as well as quantitative services. Bicoin’s App currently has over 10,000 active daily users with thousands of KOLs trading with real money. Bicoin Token (BCT) is an ERC20 token which is a value certificate in the Bicoin ecosystem.
The BCT sale process will last until April 15th with the last round tradable price capped at 0.03 USD. Users can purchase up to $5,000 in equivalent BTC if they are holding less than 30,000 BMX. For users holding equal to or greater than 30,000 BMX in their account, BitMart allows maximum purchase amount of $10,000 in equivalent BTC.
The Booming IEO Market
This is the second IEO project that has debuted on BitMart Exchange. Earlier in March, BitMart launched an eight-day Kasoutuuka News (KTN) Sale and all the rounds were finished in just a few seconds. Following successful IEOs from Binance and other exchanges, the craze for IEOs appears to mimic the Initial Coin Offering (ICO) in 2017.
It’s been one of the largest increases in price, volume and market cap in months. BTC rallied to $5,400 while other altcoins also saw impressive double-figure gains, leading most to believe the crypto winter was over and a more promising season is upon us. With the current turn in market sentiment, the popularity of IEOs is likely to increase as quick profits can be expected from faster exchange listings.
BitMart is a premier global digital asset trading platform in the cryptocurrency market with over 700,000 users worldwide and ranks among the top 5 crypto exchanges on CoinMarketCap. BitMart currently offers 205 trading pairs with one of the relatively low trading fees in the market. BitMart’s daily trading volume ranges from $800,000,000 to $1,000,000,000 USD and total trading volume has reached over $55,000,000,000 USD since launching in March 2018.