EchoLink’s Launchpad on LBank Witnesses Over 763% Surge within the First 30 Minutes

EchoLink, the latest project on LBank's Launchpad, has made a remarkable impact in the cryptocurrency market with its initial trading on LBank. The trading of EchoLink began on January 26, 2024, at a price of $0.01. Surprisingly, within just the first 30 minutes, the price skyrocketed to $0.0763, representing an astounding 763% increase from its Launchpad starting price.

The Launchpad Attracted Significant Attention

The Launchpad event garnered the attention of an impressive 74,164 participants, resulting in investments exceeding 130 million US dollars. EchoLink's innovation has brought about a significant advancement in the Web3 sphere, specifically in the DePIN IoT device sector. Early investors have once again reaped substantial profits, underscoring the importance of understanding both this Launchpad event and the EchoLink project. EchoLink, designed as an IoT oracle for DePIN IoT devices and deployed on Solana, has become the talk of the crypto community.

Pricing Details of the Launchpad

LBank initiated a subscription quota on January 17, 2024, to ensure fair participation for every investor. The Launchpad had a hard cap, and participants who reached the maximum allowed subscription invested 50,000 EchoLink tokens.

Tokenomics and Use Cases

The total initial supply of EchoLink tokens is set at 1 billion, with a distribution strategy that includes allocations for IEO, marketing, team, ecosystem operation, and more. EchoLink tokens serve various purposes, including governance, staking, and accessing advanced features within the EchoLink ecosystem.

Mechanics of the Launchpad

The EchoLink Launchpad on LBank implemented well-designed participation rules to ensure fair and equitable access. From January 17 to January 24, 2024, LBank diligently monitored user balances across different accounts and established investment quotas based on these averages. To be eligible, users were required to engage in at least one trade on LBank during this period.

About EchoLink

EchoLink is an innovative IoT oracle focused on DePIN (Decentralized Programmable IoT Network) devices, deployed on the Solana blockchain. It offers a comprehensive toolkit comprising software SDKs and hardware designs, aiming to become the infrastructure for various DePIN projects.

About LBank

LBank is a prominent cryptocurrency exchange that has established itself as a reliable and innovative platform catering to the diverse needs of traders and investors worldwide. Known for its commitment to excellence, transparency, and user-centric features, LBank continues to shape the landscape of digital asset exchange. From facilitating seamless transactions to staying ahead of market trends, LBank serves as a trusted gateway to the dynamic world of cryptocurrencies, providing users with unparalleled opportunities and a secure trading environment.

For media inquiries, please contact:

Eddy Wang

PR Manager, LBank

Email: eddy.wang@lbank.com

Frequently Asked Questions

What precious metal should I invest in?

This question depends on how risky you are willing to take, and what return you want. Although gold has been considered a safe investment, it is not always the most lucrative. You might not want to invest in gold if you're looking for quick returns. If you have the patience to wait, then you might consider investing in silver.

If you're not looking to make quick money, gold is probably your best choice. If you want to invest in long-term, steady returns, silver is a better choice.

Should You Invest in Gold for Retirement?

It depends on how much you have saved and if gold was available at the time you started saving. Consider investing in both.

Gold is a safe investment and can also offer potential returns. It's a great investment for retirees.

While most investments offer fixed rates of return, gold tends to fluctuate. Therefore, its value is subject to change over time.

However, this does not mean that gold should be avoided. It just means that you need to factor in fluctuations to your overall portfolio.

Another benefit of gold is that it's a tangible asset. Gold can be stored more easily than stocks and bonds. It can also be transported.

You can always access your gold as long as it is kept safe. You don't have to pay storage fees for physical gold.

Investing in gold can help protect against inflation. Because gold prices tend to rise along with other commodities, it's a good way to hedge against rising costs.

Also, you'll reap the benefits of having some savings invested in something with a stable value. Gold rises in the face of a falling stock market.

Another advantage to investing in gold is the ability to sell it whenever you wish. You can easily liquidate your investment, just as with stocks. You don't have to wait for retirement.

If you do decide to invest in gold, make sure to diversify your holdings. Don't place all your eggs in the same basket.

Do not buy too much at one time. Start with just a few drops. Continue adding more as necessary.

It's not about getting rich fast. Instead, the goal is to accumulate enough wealth that you don't have to rely on Social Security.

Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.

What is the best way to hold physical gold?

Not just paper money or coins, gold is money. It is an asset that people have used over thousands of years as money, and a way to protect wealth from inflation and economic uncertainties. Today, investors use gold as part of a diversified portfolio because gold tends to do better during financial turmoil.

Today, many Americans invest in precious metals such as gold and silver rather than stocks and bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.

Gold has historically performed better during financial panics than other assets. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. During turbulent market conditions gold was one of few assets that outperformed stock prices.

The best thing about gold investing is the fact that there's virtually no counterparty risk. You still have your shares even if your stock portfolio falls. However, if you have gold, your value will rise even if the company that you invested in defaults on its loans.

Gold provides liquidity. This means you can easily sell your gold any time, unlike other investments. You can buy gold in small amounts because it is so liquid. This allows you to profit from short-term fluctuations on the gold market.

What is the value of a gold IRA

Many benefits come with a gold IRA. It can be used to diversify portfolios and is an investment vehicle. You can control how much money is deposited into each account as well as when it's withdrawn.

You have the option of rolling over funds from other retirement account into a gold IRA. If you are planning to retire early, this makes it easy to transition.

The best part is that you don't need special skills to invest in gold IRAs. They are readily available at most banks and brokerages. Withdrawals are made automatically without having to worry about fees or penalties.

There are, however, some drawbacks. Gold has always been volatile. Understanding why you want to invest in gold is essential. Are you seeking safety or growth? Do you want to use it as an insurance strategy or for long-term growth? Only when you are clear about the facts will you be able take an informed decision.

If you are planning to keep your Gold IRA indefinitely you will want to purchase more than one ounce. One ounce won't be enough to meet all your needs. Depending on your plans for using your gold, you may need multiple ounces.

You don’t necessarily need a lot if you’re looking to sell your gold. You can even get by with less than one ounce. However, you will not be able buy any other items with those funds.

Is gold a good IRA investment?

Anyone who is looking to save money can make gold an excellent investment. It's also a great way to diversify your portfolio. There's more to gold that meets the eye.

It has been used as a currency throughout history and is still a popular method of payment. It's sometimes called “the world's oldest money”.

Gold is not created by governments, but it is extracted from the earth. It's hard to find and very rare, making it extremely valuable.

The price of gold fluctuates based on supply and demand. If the economy is strong, people will spend more money which means less people can mine gold. Gold's value rises as a result.

On the flip side, when the economy slows down, people hoard cash instead of spending it. This causes more gold to be produced, which lowers its value.

This is why investing in gold makes sense for individuals and businesses. If you have gold to invest, you will reap the rewards when the economy expands.

In addition to earning interest on your investments, this will allow you to grow your wealth. Additionally, you won't lose cash if the gold price falls.

Statistics

Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
(Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)

External Links

How To

Three Ways to Invest In Gold For Retirement

It's essential to understand how gold fits into your retirement plan. You have many options for investing in gold if there is a 401K account at your workplace. You may also be interested in investing in gold beyond your workplace. One example is opening a custodial accounts at Fidelity Investments if an IRA (Individual Retirement Account), if you already own one. Or, if you don't already own any precious metals, you may want to consider buying them directly from a reputable dealer.

These are the rules for gold investing:

Buy Gold with Your Money – You don't need credit cards, or to borrow money to finance your investments. Instead, invest in cash. This will help to keep your purchasing power high and protect you against inflation.
Physical Gold Coins: You should own physical gold coins, not just a certificate. Physical gold coins are easier to sell than certificates. Physical gold coins are also free from storage fees.
Diversify Your Portfolio – Never put all of your eggs in one basket. Also, diversify your wealth and invest in different assets. This helps to reduce risk and provides more flexibility when markets are volatile.

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By: Media
Title: EchoLink's Launchpad on LBank Witnesses Over 763% Surge within the First 30 Minutes
Sourced From: news.bitcoin.com/echolinks-launchpad-on-lbank-witnesses-over-763-surge-within-the-first-30-minutes/
Published Date: Fri, 26 Jan 2024 14:15:04 +0000