Binance Invests in Potential 10 TGE Projects
- Binance has invested in 10 diverse blockchain projects and is expected to issue tokens in late 2024.
- These investments highlight Binance’s commitment to the blockchain ecosystem’s growth.
Recently, Wu Blockchain, a leading blockchain analytics firm, revealed that Binance, one of the largest cryptocurrency exchanges, has invested in 10 promising blockchain projects that are expected to issue tokens in the second half of 2024.
The projects, which span across various categories, have received significant funding from Binance Labs, the venture capital arm of Binance.
Binance Invests in 10 Promising Blockchain Projects in 2024
Babylon: A BTC ECO (Binance Coin Ecosystem) project, Babylon has received a whopping $96 million in funding from Binance Labs. The investment was announced on February 27, 2024.
Xterio: A gaming project, Xterio has secured $55 million in funding from Binance Labs. The investment was announced on July 13, 2023.
Movement: A Layer 1 (L1) blockchain project, Movement has received $41.40 million in funding from Binance Labs. The investment was announced on May 1, 2024.
Source: X
Tabi: Another L1 blockchain project, Tabi has secured $26.08 million in funding from the firm. The investment was announced on May 10, 2023.
Puffer Finance: A Liquid Staking Derivatives (LSD) project, Puffer Finance has received $24.15 million in funding from Binance Labs. The investment was announced on January 30, 2024.
Solv: A DeFi (Decentralized Finance) project, Solv has secured $11 million in funding from the platform. The investment was announced on January 27, 2022.
Zest Protocol: A BTC ECO project, Zest Protocol has received $3.50 million in funding from the platform. The investment was announced on May 10, 2024.
Zircuit: A Layer 2 (L2) scaling solution project, Zircuit has received an unknown amount of funding from the platform. The investment was announced on June 11, 2024.
StakeStone: An LSD project, StakeStone has received an unknown amount of funding from the platform. The investment was announced on March 25, 2024.
Lorenzo Protocol: A BTC ECO project, Lorenzo Protocol has received an unknown amount of funding from the firm. The investment was announced on October 4, 2022.
Significance of the Investments
The investments made by Binance Labs in these 10 projects demonstrate the company’s commitment to supporting the growth of the blockchain ecosystem. By investing in projects across various categories, the platform diversifies its portfolio and spreads its risk.
The funding amounts, which range from $3.50 million to $96 million, indicate that the platform is making significant bets on the future of these projects. The investments are likely to have a positive impact on the development and growth of the projects, and may even lead to increased adoption and usage.
Conclusion
The investments made by the platform in these 10 blockchain projects are a significant development in the blockchain industry. The projects, which span across various categories, have the potential to make a significant impact on the future of the industry. As the blockchain ecosystem continues to evolve, it will be interesting to see how these projects develop and grow, and how they contribute to the overall growth of the industry
