BitEagle 🦅 Analysis of Popular Tokens - Auction#16consecutive analyses
What is the origin of Auction, which has skyrocketed today?
Why did it suddenly skyrocket by 50%? BitEagle analyzes it for you!
☝【What is Auction? 】
Current price: $25
Market value: $160 million
Auction was launched in 2021 and is a decentralized auction platform. To put it simply: it is an IDO platform for currency projects.
In November 2023, BTC ecological inscriptions exploded, and Auction took the opportunity to launch a wave of BTC ecological IDOs, such as: Mubi cross-chain bridge 60 times, Bssb stablecoin 10 times, etc. IDO pre-sales skyrocketed online, creating a lot of wealth effects, Auction rose by 8 times at most, and BitEagle also recommended buying it, leading the brothers to eat a lot of gains.
✅【Why did Auction skyrocket? 】
Upbit announced the launch of Auction. The good news and the entry of large funds from the market makers drew a big positive line in one minute.
💎【What is the power of Auction? Can I still buy it? 】
If you want to participate in the IDO of the Auction platform, you need to buy Auction and then pledge Auction to get the IDO quota. The higher the pledge amount, the higher your IDO quota.
Therefore, when Auction launches the IDO project, the demand increases and the price rises. It is a very simple golden shovel logic.
At present, Auction has no high-quality IDO and no other strong power. Today's increase is too high, and the risk is doubled. It is not suitable for buying for the time being. Observe the subsequent development first. $AUCTION $PHB $CTK
