In my article yesterday, I wrote about the token sale for League of Kingdoms (LOKA) on Binance. For 8 days Binance had registered the BNB amount in the wallets of the users of the platform and based on your average BNB wallet balance, you were allowed to get an allocation for the token sale on the platform. This is a normal problem, because almost 200,000 people wanted to join the sale, and most people ended up receiving tokens worth something like 0.1% of the amount they really wanted to allocate to the sale. In other words, if you committed BNB tokens worth $50,000 to the event, you would most likely receive tokens worth approximately $50.
There is no risk in this, because the remaining tokens are delivered back to your wallet afterward. But, when you see that you were able to sell your tokens with a 15x profit immediately upon trading, I guess most people think that it would have been great to be able to buy more tokens during the sale.
There was a cap on the sale, meaning that nobody was allowed to get tokens worth more than $15,000 at first, but that means that there are some BNB whales out there with probably hundreds of thousands of tokens, and if they did sell the tokens at once upon trading, those $15,000 would be worth $225,000. That is one nice reward for clicking your mouse a couple of times in the morning, isn't it?
Of course, you should complain if you are a shrimp either, because if you receive $10 worth of LOKA tokens and sold them at once, you actually turn $10 into $150 with a few clicks.
15x profit - I am satisfied!
Somehow, I thought LOKA might actually go even higher, but once I saw it calm down between $2.5 and $3, I just sold all my tokens and felt happy about that 15x profit. What will I do with the profit? I might use it to buy some more BNB I guess... I still haven't done so, but I have the funds in BUSD, but seeing the market dip this morning, now might be good timing to actually buy the BNB?
What do you think? Are we in a temporary dip, or are we going further down?
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