Binance Coin Up 20% on DeFi IEO Hype; Pullback Ahead?

[Lenipiw]

BNB, the native token of the world's leading cryptocurrency exchange, Binance, has surged by more than 20 percent following July 24, 2020.
BNB, the native token of the world’s leading cryptocurrency exchange, Binance, has surged by more than 20 percent following July 24, 2020.

It is the same date on which Binance’s CEO, Changpeng Zhao, announced that they would launch an initial exchange offering round to fund their upcoming decentralized finance project. An Initial Exchange Offering (or IEO), allows startups to raise funds by selling their utility/security tokens at an exchange.
Visit here: https://www.newsbtc.com/2020/08/03/binance-coin-up-20-on-defi-product/

[LogiC]

It will likely to continue as they already announced the participating project for this launchpad called sandbox. Yesterday it pumped almost 7% due to the release of announcement and I think it could increase more on the following days as the day of the event approaches.

Tweet of CZ sometime is so powerful affecting the hype on market too. I cant imagine how strong the power of social media.