With Poloniex LaunchBase, Can Tron’s (TRX) Price Mimic BNB’s In 2019?

Quick take:

  • Poloniex recently launched LaunchBase, its homegrown IEO platform.
  • Tron (TRX) is the sole digital asset approved for investment on LaunchBase.
  • Could TRX experience a run in the markets similar to BNB’s in 2019 when Binance Launchpad was launched?

On the 5th of April, the crypto exchange of Poloniex announced that it had a new investment platform for its users known as LaunchBase. This is the exchange’s homegrown Initial Exchange Offering platform where up and coming crypto and blockchain projects will have access to crowdfunding made popular by the decentralized nature of cryptocurrencies.

Tron (TRX) is the Only Approved Coin for the Crowdfunding

Additionally, the announcement clarified that TRX was the only asset to be used on the LaunchBase platform.

Please note that LaunchBase has adopted a first-come, first-serve rule, and TRX, the token of its launch partner TRON, will be the only eligible currency for purchases.

Can TRX Follow BNB’s Path In the Markets With LaunchBase

With TRX being the sole asset used for investments on the LaunchBase platform, it is easy to start creating predictions based on the price action of BNB after its first 2019 IEO of BitTorrent (BTT).

Going back in time, we observe the BitTorrent (BTT) token sale was carried out in late January of 2019 and BNB was valued at around $6. Its value in the crypto markets would soon peak at around $39.65 in June of the same year. This is a 560% increment in value.

When we do a similar calculation with TRX at its value of $0.014 at the time of writing this, we find that the coin could find its way to $0.0925 in the next few…

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