As you may already know, FUN tokens spiked up over 10% today. This is due to the fact that Binance will be listing FUN tokens on September 28, 2017. Usually when exchanges list a new coin, the coin price tend to go up. There is a good chance FUN tokens will do the same due to a promotion being held on Binance.
The promotion: The top 206 FUN token holders by October 1 will receive additional FUN tokens as a reward. First place gets 300,000 tokens which equates to over $6,000 USD at current price!
2nd Place 200,000 FUN Token -- Over $4,000
3rd Place 200,000 FUN Token
4th Place 100,000 FUN Token -- Over $2,000
5th Place 100,000 FUN Token
6th Place 100,000 FUN Token
Even the 7th - 206th highest token holder get 10,000 token which is over $200! There will definitely be a lot of buying activity on Binance come September 28 as whales would try to capture the highest reward possible.
Source: https://binance.zendesk.com/hc/en-us/articles/115001754652
CAUTION: However, there is a HIGH chance of a sell off after the top 206 token holders receive their rewards on October 1st, 2017 at 10AM UTC. Therefore, I would recommend any traders to take profits before the reward distribution time and buy back your tokens after 10AM UTC.
There are also a few other catalysts coming up that could boost the price after October 1st.
- FunFair is rebranding its logo and website within the next 2 weeks
- Phase 2 token burn: The CEO, Jez San, has mentioned on discord that the Phase 2 Asia-focused ICO will likely be cancelled (due to the ICO ban) and billions of tokens will be burned.
For FUN token investors and traders, October should be an exciting month with lots of price movements