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Space ID (ID) Token Dips 25% Despite Binance Launchpad Listing

Wed, 03/22/2023 - 14:58
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Tomiwabold Olajide
Space ID (ID) token suffers 25% decline despite successful Binance Launchpad
Space ID (ID) Token Dips 25% Despite Binance Launchpad Listing
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ID, the native crypto asset and governance token of Space ID, a Web3 domain management system that allows users to exchange, register and manage crypto-based domain names, is currently down 25% in the last 24 hours at $0.468, according to CoinMarketCap data. The ID token just made its public release on Binance's launchpad, where trading began shortly after.

On March 16, the SPACE ID governance token — ID token — was unveiled by the Space ID team. On the same day, Binance announced Space ID (ID) as the 30th project on Binance Launchpad, while user BNB balances were recorded from March 17. The Binance Launchpad for Space ID was a huge success as Space ID Tokens received over $2.8 billion in BNB commitments.

Binance CEO Changpeng "CZ" Zhao mentioned that this represents the ATH for Binance Launchpad.

Space ID, the latest launchpad whose subscription ended hours ago, received over 8.4 million BNB tokens in commitments from 99,000 holders over 48 hours on March 21. Tokens were offered at 0.00007412 BNB for each ID, with a total of 100 million IDs available.

The final allocation will be estimated based on the number of BNB commitments to the total number of holders that participated.

According to an earlier announcement, the ID token distribution was expected to start on March 22, 2023, at 10:00 a.m. (UTC).

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.