After three long days of continuous mining, I used 300 BNB to mine 423 BIO. The borrowing cost was about $1.5 each (I have stopped borrowing for mining this time and bought 18,000 BIO at $0.63 before the whales' trading). According to observations, the current borrowing rate for BNB is about 30% annualized, which is similar to my borrowing costs from the past two days. Currently, the pre-market price on some second-tier exchanges is about $0.87.
Private Placement Cost Review:
Pre-seed round: Raised $900,000, with a valuation of about $35 million at that time, average cost about $0.01.
Seed round: Raised an additional $1.4 million, bringing the total valuation to $69 million, average cost about $0.02.
Public Auction Cost Review:
Genesis Round 1: Raised $6.2 million, corresponding to a valuation of $85 million, average cost about $0.025.
Genesis Round 2: Further raised $18.2 million, total valuation increased to about $142 million, average cost about $0.042.
Genesis Round 2.5: The final round raised $3.5 million, with the valuation finally fixed at about $219 million, average cost about $0.065.
Based on the above data, and Binance's historical pattern of not letting borrowing miners incur losses in similar projects, I expect the opening price of BIO on Binance may be between $1.8 and $2.5.
I entered the blockchain field as a novice in 2017, keen on finding relatively stable arbitrage opportunities between centralized exchanges (CEX) and decentralized exchanges (DEX). I look forward to sharing and discussing opportunities for profit in the crypto space and the latest trends and viewpoints with like-minded individuals. As a long-term investor, my main positions are (BTC, BNB, UNI, CAKE, WLD arranged by position size). If you are also passionate about cryptocurrencies, feel free to like, follow, and leave comments to share insights.