Cryptocurrency traders have seen growing profits over the past month, with many altcoins showing remarkable gains against larger coins. Space ID's ID token is no exception; the asset has increased nearly twofold in the weeks since its Binance Launchpad sale. ID tokens can be used for governance on the Web3 domain management platform. The token has a market capitalization of $240 million and has seen $340 million in trading volume in the last day across Binance and Gate.io platforms.

The success of ID comes soon after the similarly prosperous token sale for Hooked Protocol’s (HOOK) token in December. The sale managed to raise $9 million in BNB commitments for HOOK tokens at 10 cents each, which has now grown to $2.50, a 2300% ROI. This success story, combined with Binance's lottery system of token distribution, has spurred investors looking to find the next big project.

Space ID accepted over $2.85 billion worth of BNB token commitments from 99,000 traders in a 48-hour window, looking to bring in $2.5 million worth of ID tokens. With a rate of 0.00007412 BNB for each 1 ID, a total of 100 million tokens were offered. It's success reinforces Binance's position as a leader in token sales among crypto traders.

The coming weeks and months will show if Space ID can reach similar lofty heights as Hooked Protocol, or if its token will be just a flash in the pan. Only time will tell if the rallying cry of “altcoin season” will signal the success of these budding projects.

In the cryptocurrency market, traders have been seeing astronomical returns over the past month. Space ID's ID token is one of the most impressive performers, shooting up nearly twofold weeks after its successful Binance Launchpad sale. The token maintains a market capitalization of $240 million and a 24-hour trading volume of $340 million across the Binance and Gate.io platforms. This coincides with the phenomenal success of Hooked Protocol's (HOOK) token, a December sale that resulted in a 2300% ROI.

To gain a piece of the market cap pie, enterprising investors have looked to Binance as an avenue to allot tokens in new projects. The Exchange uses a lottery system to decides who goes into the round of token sale. For the Space ID sale, they accepted $2.85 billion worth of BNB token commitments from 99,000 traders and managed to raise $2.5 million worth of tokens. Each 1 ID token was priced at 0.00007412 BNB.

Only the future will tell how Space ID will fare in the cryptocurrency market, and if its success will mirror that of Hooked Protocol, or fade into the background. But for now, the cry of “altcoin season” rings loud among investors looking to land the next big crypto success story.



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