Korean exchange ProBit sells out Linix IEO in 5 seconds

18 Mar, 2019
News
Korean exchange ProBit sells out Linix IEO in 5 seconds

Initial Exchange Offerings (IEO) appear to be the new flavor of the week for the crypto industry, following the slow and steady demise of Initial Coin Offerings which saw most projects drop over 90% in value since their ICO sales. 

While several major cryptocurrency exchanges have jumped on the IEO hype train and begun offering their own platform to sell IEO's on, Korean exchange ProBit has been busy with them for some time now. 

ProBit just sold out their third IEO. The LINIX IEO first round sold out in a whopping five seconds with the second round also sold out already. 

The Korean exchange currently has two upcoming IEOs with half a dozen completed over the past month. 

It would appear that Korean have already started making IEOs mainstream on ProBit exchange. 

IEOs look set to become the standard moving forward, allowing exchanges to handle the sale and distribution of tokens on the platform. This also allows the exchanges to open trading faster for investors, which would be a welcome added benefit. 

Binance is currently gearing up for their third IEO of 2019 with CELR set to go on sale tomorrow 19 March 2019. 

Read more: Celer Network (CELR): All you need to know about the Binance Launchpad sale

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Read more about: ICO South Korea

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