Binance Coin (BNB) has seen double digit growth the past week, soaring to more than $660 and nearing its all time high. This is likely due to the upcoming launch of the FC Porto fan token on November 16th. Binance users can subscribe to the token based on their average BNB balance over a period of 10 days from November 6th to November 16th.
In the past, we have seen massive returns for new token launches, and it is an almost guaranteed investment. Therefore, it is a lucrative opportunity to hodl as much BNB as possible, and get in on the launch. Hence the recent spike in its price.
If you want to take advantage of this launch, you will need a Binance account. Signup here to create your account and get in on the action.
Once you are in, keep BNB in your Spot wallet until the 16th, and wait for the balance to be calculated. You will then need to sign the Token Purchase agreement, and commit your BNB.
As soon as trading for the token starts, the price usually jumps many fold. Though this happens so fast that only bots are able to make a successful trade. Best strategy is to sell half of what you have as soon as possible, and keep the rest for a future spike.
Best of luck with the launch.
