Binance leads the way when it comes to successful IEOs. Out of the 13 main exchanges that listed new coins on their platform, nine generated losses for their investors.
Data from Blockchain Capital showed that None of the coins listed on Binance DEX, Bibox, MXC, BitMax, Bgogo, Bittrex, Probit, and Bitforex returned any profits.
Kucoin, OKEx, and Gate.io all had IEOs that showed modest gains throughout the year.
According to the data, the only exchange whose IEOs managed to show any kind of significant profit this year was Binance.
One of the world’s largest cryptocurrency exchanges by trading volume, Binance pioneered the exchange token and IEO model last year with the launch of its native Binance Coin (BNB).
Binance coin was the only IEO token that showed any kind of movement throughout the year, as trading surges pushed its price to almost $38 in June.