The constant influx of new cryptos into the market means that there are endless avenues for crypto investors to get their needs met. These include various investment vehicles and programs, including presales.
Presales, which see investors buying into a token before it formally hits exchanges and the wider market, have been a big part of the industry for years now. But the ongoing bull run and the increase in tokens being launched means that there are more of them than ever.
And make no mistake, all this hype is warranted. As Kane Pepi explains, the best crypto presales 2024 could earn investors several times their initial buy-in in the best circumstances. We have seen this happen with legacy tokens like Ether and every other day, more opportunities present themselves for crypto lovers to get their hands on new offerings.
Recent Presale Successes
If you need any more evidence of presales’ ability to make a profit for users, consider the successes of Slothana and BlockDAG. Slothana is based on the meme of a sloth in an office and is based on the Solana blockchain. The token raised $3 million in just 2 days of presale and has become one of the hottest meme coins on the market.
The presale involved investors sending SOL tokens to the developers’ wallet, with 1 SOL giving them 10,000 $SLOTH tokens. This was a bit of deviation from the usual system of connecting a wallet, though that option is also available for investors. Further adding to the hype is the fact that Slothana doesn’t have a fixed amount of tokens reserved for presales and thus, the opportunity to buy into it early can end at any time.
Clearly, the public believes in this project and thus, its success so far. Another token making waves for its presale is BlockDAG, the native token of an innovative namesake blockchain. The BlockDAG ecosystem is unique because it allows blocks to be added to its chain parallelly. This is unlike anything we’ve seen in the industry before and means that transaction speeds are cut down tremendously.
BlockDAG has high ambitions to become the top layer-1 chain in the industry and the features it offers seem to be headed in that direction. Not surprisingly, the token has raised an impressive $10.4 million in its presale, becoming one of the most hyped projects of the year so far.
The presale has done so well that the BlockDAG team has announced a $2 million giveaway to its community members. 50 people will benefit from this giveaway and to win, they have to engage with BlockDAG’s social media, invite friends, and submit their wallet addresses.
What This Means
The examples of BlockDAG and Slothana show that there is a lot of enthusiasm within the crypto industry for presales of all types. You have BlockDAG, which is trying to become the go-to layer-1 solution and you also have Slothana, which is based on sloth memes. Both are different but show how far the industry has evolved.
For a long time, meme coins especially were not seen as serious investment vehicles by certain parts of the crypto world but following the success of tokens like Dogecoin and BONK, they continue to wax stronger. Not only this but one could argue that meme coins are getting more respect alongside more ‘serious’ cryptos.
Presales also continue to boom, even more so as the industry is in a prosperous state. A lot of the reasons why a consumer would want to buy into a presale have remained valid over time. While they carry some risk, buying into a presale means getting a token at a cheaper price than it would be listed for on an exchange.
Then, of course, there is the chance to make a profit. BlockDAG’s early investors are believed to have made over 5,000 times their initial buy-in and this level of benefit is certainly appealing. Consumers hear of this sort of profit-making and are encouraged to get involved in presales even more.
BlockDAG is also rewarding investors through its giveaway, which tends to be a perk of investing early. But even with all these benefits, there is still the need for caution among investors. Not every project will see a presale with BlockDAG’s level of success.
In fact, many presales won’t turn a profit, as is the case with any investment class. The important thing is for investors to do their due diligence on every presale, invest the amount of money they can afford to lose, and diversify their portfolio. If they are lucky, they can be one of the crypto investors who make a sizable profit off of presales.
