ICOs Are NOT Dead: 39,000 Participate in the Latest Binance Launchpad ICO, Raising $4M in 17 Minutes

Binance’s token sale platform, Binance Launchpad, has just executed its third ICO launch for the Celer Network (CELR).

The token sale, which accepted the well-performing Binance Coin (BNB), was conducted on March 19, and raised a total of $4 million. The sale was conducted in a single session, with all of the roughly 597 million CELR tokens selling out in just under 18 minutes. The minimum purchase was $20 and the maximum $1,500.

Celer Network is a layer-2 scaling platform that offers off-chain transactions for both payments and smart contracts.

The company has already launched CelerX, powered by the open-source Celer SDK, that is available for both Android and iPhone. The project’s technical partners include Dfinity, Qtum and IoTeX. Celer’s whitepaper describes their efforts to offer effective layer-2 solutions well.

Binance Launchpad has seen the execution of a few different token sales, including Fetch.AI, an AI-focused platform, and TRON’s Bittorrent Token, which has drawn a lot of attention.

The intention of Binance’s Launchpad is to assist blockchain startups gain the funds they need to execute ideas that focus on blockchain adoption.

Binance has had a good start to 2019, despite crypto volumes being at their lowest in nearly 2 years.

CEO Changpeng Zhao is extremely keen on promoting adoption and Binance’s token is steadily gaining traction, with developments such as its upcoming acceptance on the LOOM network. TRON co-founder Justin Sun is also optimistic about the prospects of BNB, going so far as to say that it is a “new Bitcoin”.