As it was previously the case with the token listings of BitTorrent and Fetch.AI following their sales on Binance Launchpad, Celer Network’s token has also been listed at a market price approximately 400% higher than its offered value during the Launchpad fundraising event.
Celer Network (CELR) – Another Major Increase
In an official release, Binance announced that it would list Celer Token (CELR) on March 25th at 4:00 AM UTC. The exchange also disclosed that the distribution of CELR tokens has been completed successfully.
Earlier last week, Cryptopotato reported that Celer Network’s sale broke demand records on Binance Launchpad as 39,000 users tried to get a piece of the pie. Unfortunately, only about 10 percent of them managed to get their hands on the CELR token. And they should definitely be thankful about it.
Following its listing on Binance, the token is currently trading at around $0.025. For comparison, the price asked for it during the Launchpad token sale was $0.0067, suggesting yet another staggering increase of around 400%.
What is more, Celer Network had a private sale on August 2018, at which tokens were allocated at a price of $0.015 per 1 CELR token. This represents a minor increase of around 66%.
Presently, CELR trades against Binance Coin (BNB) at a price of 0.0015 BNB. During the token sale on Binance Launchpad, CELR was sold at $0.00043, revealing a similar increase compared to its USD value.
Is Price Sustainable?
Perhaps the more important question which should concern those actually interested in the project rather than its speculative price is whether the current listing values are sustainable.
As it is often the case with newly listed coins on Binance, the initial period is usually accompanied by high volatility and price swings. The same is true for CELR.
However, since it has been listed, the token has already declined notably. Its USD value has dropped by more than 15% in the few hours after it began trading on Binance.
While its listing price is substantially higher than the one during its public and private token sale, the fact that it doesn’t seem to hold up is definitely something to consider. In comparison, the previous sale – Fetch.AI – Has dropped significantly since it’s price discovery.