Binance, the world’s largest crypto exchange, has completed another big token sale via its Launchpad platform. On Tuesday, Launchpad ran a sale for a new Ethereum-based token called CELER. The event became a sell-out success—even though Launchpad itself encountered some significant problems.
High Demand For CELER
CELER’s value comes from its eventual role in the Celer Network, a layer-2 scaling system that facilitates faster and cheaper Ethereum transactions. Although CELER has not received much attention, Launchpad’s sale demonstrates that the token has some hype behind it. The Celer Network has previously raised $30 million, and now Launchpad has helped it earn another $4 million.
In fact, Binance CEO Changpeng Zhao suggests that there was more demand for CELER than any token that Launchpad has previously sold. CELER sold out in just 17 minutes, and about 39,000 investors attempted to buy it. Time was limited, though: just over 3100 users were able to buy CELER before the supply ran out. As Zhao notes, other buyers…