Key Takeaways:
- Arkham (ARKM) became the latest project to come from Binance Launchpad.
- Binance Launchpad will offer 5% of ARKM’s total supply of 1 billion tokens.
- ARKM will likely get support from crypto whales.
YEREVAN (CoinChapter.com) — Prominent cryptocurrency exchange Binance (BNB) announced its 32nd project on Binance Launchpad called Arkham (ARKM). This highly anticipated project aims to bring innovation to the digital asset space with its unique token sale format and promising features.
The development already has the whales excited.
Binance Launchpad is a platform for crypto crowdfunding. Cryptocurrency projects conduct an Initial Exchange Offering (IEO) to gather support from users at an early stage.
Binance Launchpad has already hosted successful projects like Polygon (MATIC), Axie Infinity (AXS), and Sandbox (SAND), and now Arkham Intelligence will join their ranks.
5% of the total ARKM supply allocated to Launchpad
According to the official announcement from the largest crypto exchange, the Arkham token sale on Binance Launchpad will utilize a popular subscription format. According to the team, this will allow users to acquire ARKM tokens. The sale will have a launchpad hard cap of $2,500,000, with a maximum cap per user set at $15,000.
Arkham has a total token supply of 1,000,000,000 ARKM. The developers have allocated only 5% of the total supply, or 50,000,000 ARKM, to Binance Launchpad. One ARKM token will cost $0.05 during the public sale.
The subscription period will be between 17-18 July 2023. All eligible users will have a 24-hour window to commit their BNB tokens during this period. Users must sign the Token Purchase Agreement before locking their BNB to participate.
However, a token sale timeline preparation period will proceed between July 11-17. During this time, Binance will calculate users’ BNB balances by taking hourly snapshots for six days. The average daily BNB balance during this period will determine the maximum amount Binance Tokens users can commit to buying ARKM tokens.
After a brief calculation and token allocation process, Binance will initiate the Final Token Distribution on 18 July. After the determined BNB amount has been deducted, Binance will transfer the corresponding ARKM tokens to the user’s spot wallet.
Are crypto whales looking to buy Arkham tokens?
Amid the growing excitement, data indicates that some whales could already be considering the new opportunity. As a recent tweet by Lookonchain suggests, one whale has deposited $35 million to 4 Binance addresses.
Since there is a buying limit set on each wallet, the tweet speculates that the whale intends to buy ARKM tokens through these wallets to maximize their holdings.
If the Arkham token continues to gain support from crypto whales, its price may rally after the token distribution stage. Nonetheless, amid all the troubles Binance faces, this might come as the next opportunity for investors.
Meanwhile, the price of BNB has rallied over 6% since the news while writing.
