Bitcoin Forum

As of today Binance announced the 32nd project on their launchpad. Thats why we see a sudden pump of bnb due to massive participants that will join tge token sale in preparation for the snapshot.

Check out their announcement page.

https://www.binance.com/en/support/announcement/introducing-the-arkham-arkm-token-sale-on-binance-launchpad-6ad1921b56fb4b369f9cf3e4449e62e2

Just signed up in their waitlist but I don't know how many are going to be eligible for whitelist in the leaderboard. I think the more invites you get, the higher you rank in the leaderboard for a guaranteed whitelist.

Let's just see what happens when their sale goes live in the Binance launchpad. Fingers crossed!

This situation remember me with last bullrun when people grabing bnb like crazy to invest in to many binance project. And new project comming every day on binance. Are we in the bull market now ? I dont think so.

I have told people not to bet against BNB, there are many reasons to hold the tokens and Launchpad is one of the reasons, we are about entering the bull market and most projects that have not raised fund from the public will try to use Binance Launchpad because of the exposure and the liquidity benefit it provides for the projects. I will surely participate in the Launchpad and just hope the project do well. I have used Arkham platform before but still need a lot of work to be done to be among the top go analytical tool in the market.

I think they have gotten a very good project and if you have some BNB why not put some and if you are lucky you might get some slots Also I think they had a referral programme where they issued points to users to convert That is likely going to turnout good too

This kind of testnet or activity is the one I dont like. The process wherein you needed to invite members for point system. Usually its hard to get people to sign up to your account. But this literally favors the influencers who has dozens of followers.

Their launchpad isnt raffle type. It will depend on the bnb you hold in your wallet. So the bigger the tokens you commit or alloted for the snapshot, more tokens will be bought.

Btc monthly macd at this month became green for the first time in bear market which mean most likely we are ready to massive uplift in majority crypto on the train of etf. And halving is near, fed pivot is near, etf approval same page. Most likely get approved because us investor projecting to avoid gold (brics case) and btc etf is only way to focus the agenda

I was already wondering why Binance made this 10$ price jump yesterday while the rest of the market was pretty quiet and not moving at all. This explains it i guess. I have never used Binance as my main exchange though and i don't really own any BNB besides a little bit to pay for transaction costs on the binance smart chain so i have no chance to participate in this launchpad sale. I am not sure about that project though because i don't really get that intel-to-earn mechanic that they are introducing. Also 50 Million € valuation for the investment round on Binance seems ok to me. Lower would be better of course but that is still ok.

Sometimes I do wonder how Binance picks some of the projects on their launchpad. The sentiments about Arkham lately hasn't been too great. I heard they are in the business of "deanonymizing crypto" which in just means they are in the business of doxxing people. Doesn't have good pumpamenntals but with Binance involved, I'm sure it would do well. I don't have BNB to participate but I've taken the opportunity to long  Bnb on coin-M futures.

Am sure it is part of the reason why they chose binance. Yeah no one knows the logic binance use in selecting projects for their launch pad because if this is what they are all about, they will not have the desired support from majority of the crypto community who understand this point. But then many crypto users and investors are more concerned about their profit than what a project represent.  i bet the majority will only participate for the short term profit, after that , they will walk and never return.

I think this project will have potential for growth. Now Binance needs to raise bnb and attract new users in every possible way after the SEC accusations. I think that the new IEO project is just right for such a case. Probably for Binance it doesn't matter what kind of project it is, the main thing is to do everything in time.

The project has a good chance to start with 1$ on Binance trading. Not sure if I have enough BNB to get a good allocation. ::) Who participated in the last token sale on Binance, can you tell me if it is possible to count on a good allocation with 5 BNB?

Before launch they first introduced their sign up options for their waitlist, and mostly people joined it and mostly people are thinking that they will get the airdrop from their sign up , that's why its gain a hype after just announcening it that it has a launchpad on binance exchange as well.

i've seen this project being talked heavily in various platform, the exposure that this project gets was truly massive I think the presale gonna be as succesful as sui if not more.
since considering the fact that BNB pumping means it got so many demand trying to get that share of pie.
regardless though getting qualifications would be difficult, and the airdrops allocation was still heavily uncertain. but I think most of token can be gained from the binance.
I'd doubt other than that someone could get significant amount of token honestly.

I missed the airdrop, lol. Even though I already signed up before, I just didn't get any invites.

Another thing, there was some issue that spreading about Arkham, some are saying that Arkham is a project of the CIA to have surveillance on people.
And the issue also that Arkham is just collecting every person's personal information like email, name, IP, and device info because that's indeed what is on their terms of service.

Overall, I'm not a hater of this project, it's a great project for on-chain analysis and an all-in-one wallet scanner. The only thing I don't like is the way they collect some personal information.

Does Binance Launchpad mean success for projects and profit for investors?

Many tokens in Binance Launchpad dumped to hell months after listing on Binance. I don't know project founders consider their projects are successful,  maybe because they got money by launching their projects. I am sure tha in contrast, investors lost money with those projects are failed investors and they are not happy.

Does it mean Binance Launchpad created by Binance to have another capital source into BNB token to bump BNB?

Binance has announced with 32nd Launchpad last two days and bring positive side with BNB coins raise up from $230 to $250 current price right now, always bring good news when Binance announced their launchpad project but this project have an airdrop with snapshoot take on July 8.

Some detail with Arkham (ARKM) launchpad in Binance,

• Sale Price 1 ARKM = 0.05 USD
• Tokens Offered 50,000,000.0000 ARKM
• Single Initial Investment 0.1 BNB
• Hard cap per user 15000 USD (300,000 ARKM)

Subscription Timeline

• BNB Holding Calculation Period on 2023-07-11 07:00
• Subscription Period on 2023-07-17 13:00
• Calculation Period on 2023-07-18 13:00
• Final Token Distribution on 2023-07-18 14:00

Source https://launchpad.binance.com/en/subscription/ARKM_BNB

It will as traders or retailers are after the hype and volume. If this project got that, whatever the concept it is, it doesnt matter. Some only based on charts info and not even care about its fundamentals. After they profit they leave. Different approach actually.

Any amount would count, but 5bnb maybe not so much since theres a lot of participants. This launchpad favors huge holder of bnb.  But even though any amount would do good since surely the token would be worth 5x to 10x or more valuation when it got launch.

I agree. Like I said, with Binance handling the token sale on its launchpad platform is enough reason to exponential increase the pumpamenntals. The narrative on crypto twitter has changed now about Arkham. I believe their CEO held a space and explained a few things. The overall sentiments right now is bullish. For a team that reportedly raised over $150M prior to this launchpad sale, I expect the token to do a minimum of 5x from launchpad price.

Goodluck to everyone who got in via the launchpad, their airdrop or early investment rounds.

Wow I didnt know that they raised that much. I assume thats a pledge from VCs and not in liquid cause thats a lot of money. Probably the lowest price could do is like $1 utmost given the hype. But there are lots of airdrops to be dump too, that could lowered the potential range. Im not sure if I can join heavily on this one as my funds tied up on other dapps.

I've been with Arkham email subscriber list but never know that they will be available at Binance Launchpad. Well, Binance is always at the front when new narratives are coming and they are exploring, if they are getting these tokens on them then it's a sign, maybe a DeFi summer once again. I bet PENDLE will have a blast as well now that they're likely the one that leads in LSDfi narrative. Who knows? You probably have to not get FOMOed or risk those you can afford to lose.

If you look at the last few years, you will understand that the projects of Binance Launchpad create a lot of hype and get a good amount of returns, so if you have enough balance, you will not miss the Binance Launchpad projects, you can take a very good profit. Join this Launchpad  become

The total allocation for airdrop has not been disclosed by the team. I remember that some people are saying if there are only 30k wallets eligible for the airdrop and around 11 millions of token gonna be divided for the all of eligible wallets for the airdrop. I guess if the total allocation for airdrop can be less or more. I thought that airdrop is far more profitable compared with participating in the launchpad. I have been getting around 80 points.

Those who invite most people in the waitlist will be the most money makers from this token. Because more points means more tokens. I saw the waitlist but didn't do. I'm such a fool  :-[

This is a very very risky statement, I hope you are careful. If you think that it will do a minimum of x5 after the launchpad, then you are going to invest heavily if you can, of course if you can reach it at the right time. But also remember that even if it goes up after the launch, then it could crash a lot with people taking their profit.

Remember that not everyone is in this for the long term, some people want to take that x5 profit and leave, which will crash the price and we are going to be hurt if you keep it long enough. I would suggest that if you really want to get involved with the launch, then you should get out after a while so that you are not holding it for too long and make a mistake of getting too greedy and lose.

I know about the risks involved when it comes to investing but this is on binance launchpad, the amount you are able to invest is dependent on the amount of BNB tokena you hold. If you hold more BNB, you get more allocation and it is also capped for each user. Btw, I won't be participating in the sale as I haven't held any Bnb in a while.

Any binance launchpad sale benefits from the "binance" effect so it should be a good for everyone who gets in and takes their profit.


If you signed up for their beta, you should get some allocation. That's what I heard.

There’s always a next time and I’m sure this is not the last launchpad with Binance.
Start holding Binance now because its a real deal and you’ll get more benefits if you have this one. Now, hoping to be qualified for this launchpad and I’m sure this will be a great project as the market starting to recover again and aim for the bull.

I do not know, but it is such a launchpad that always gets Binance into legal or regulatory problems, as employees enter currencies that have a relationship with their developers, or that Binance has a significant market share in it, and therefore they use the platform to achieve personal profits or to blackmail projects with the possibility of canceling the listing at any moment.

My words may not sound good to some, but your participation in such a launch increases the power of Binance and the centralization of the services it provides. It is true that it is beneficial in the short term, but it is extremely harmful in the long term.

i think we didn't even know how much allocations will be for airdrops, though the airdrops was definitely coming, maybe you could try other programme presented by binance to get some share of token, one way is just outright investing in them.
but then again it does seem more interesting to get something for free while the other are quite literally paying to get share of tokens.
I just think airdrops nowadays are rather unpredictable and this airdrop also one of many that I potentially missed.

I'm not usually investing into a new project especially when it comes to Binance, but TBH, I think I'll do some research now, and make a goal of investing a portion of my money into a new project.

As for this project, I'll do a bit of a research into it, and if I find it beneficial for me, or it has a use case that would help us investors, I'll try to allocate my money, and invest into it. On the flip side, I will not buy their token during their sale, pre-sale, or whatever they want to call it, but I will invest after the listing. Why? It has been launched on Binance meaning after the sale, it will be listed on Binance, so there's an assurance that the token will be listed on an exchange.

From what I observe over new projects during the last 5 years that I'm involved with cryptocurrency, I always see newly listed projects' price going down a few hours after it has been listed, and it's because those investors want to take profit as early as possible. For me, it would be better if you will invest a few hours after it has listed on the exchange because it's price at that time goes down already. Of course just invest if you only did your research. Well, that's my strategy, and will make some research regarding this project as well. :)

There seems to be a lot of issue being raised about the Arkham project, that it stands against everything Crypto is all about, but people forget that the likes of Nansen are doing and people have no issue with it, because it is a market for the selected few they were being celebrated, but now it is being blown out anyone can participate. I believe people will jump on these and farm the tokens to death and the true owner of a lot of accounts will be revealed and if the token pumped well and people makes money then the noise will die down.

It is because of the BTC pump.  Also, I see some of the users can not enter their addresses in the Arkham dashboard. This is a major bug the team needs to fix. Also, the Arkham project team only gives ARKM tokens to the referral users. But the Arkham dashboard has more functionalities compared to the debank dapp.

Thats a nice observation. Actually its true, we cant deny that investors or binance participants on the launchpad got some 5x and more upon launch. Thats inevitable since the hype there is big. If you are a participant then better sell off at good profits. But you are investors, you gonna be wise to wait for it to drop and let them take the profits and enter when its an ideal price for reentry. Now hold it and observed the project on all aspect. Long term goal, product offered and many more and youll understand if youll make a ncie juicy profits from it.

The dashboard UI of this website is still lacking, even though the functionality is sufficient. And as you say, there is some bug that i have experienced by myself. when I try to track my wallet, I find bug on portfolio feature, The bug is, I find several tokens that I no longer hold but still appear on the list. After I checked again through the official explorer, the token was not in my wallet. I try to send this issue to Arkham support via email, I don't know i will get response or not.

What I'm currently focusing on on the issue of Binance recently is launching with constant lauchpad and lauchpoll, as if they're being very clever in redirecting fud with the SEC. The interest of many people about binance as well as BNB is gradually increasing again, personally I think this IEO is a bit rushed, but it seems that this will be a driving force to prepare for an upcoming bull run happens to the market within the next 1 to 2 years, the push of Binance is really strong and no exception this time Project Arkham will also receive a lot of buzz.

Those projects have big money from their fund raising but using those funds wisely to develop their projects well after that is more challenging. When the hype goes away, if they can not have good tokenomics, good ideas to develop new products, their projects will be eliminated as cryptocurrency space is very harsh.

With those Launchpad projects, pay attention on their tokenomics and their token unlock schedules. Tokens will probably be dumped by investors who bought cheap tokens at different seed rounds.
https://vestlab.io/

Such tokens usually have pump and dump schemes and if investors or traders are not careful, they will stuck in a trap of pump and dump. Hold or buy more with pumps and panic or impatiently, disappointedly sell with dumps.

Many examples but I will use ICP (Internet Computer) with all time high more than $400 and now is just more than $4. This token has a classic pump and dump scheme so do Launchpad tokens.
https://coinmarketcap.com/currencies/internet-computer/

A waitlist must have its own purpose and not really for the airdrops. A good project won't just give airdrops just like that but if let's say it's possible, not all can get it and it will mostly be raffled like the others, so cheer up man. No need to disappoint your self about it.

If you want something that is sure, the best way is to use your own money to invest on the coin. This wasn't the first time I hear a project who are like that ( the way you describe it ). For the rumors saying it's a project of CIA, lol I think that sounds unbelievable. I think this is just a FUD for others to avoid the project and the FUDers are the ones who will invest the most on it.

I can't even comprehend what exactly you are trying to get at with this post, can you explain why you think why the ieo is a bit rushed? what is left to be done that have not been done by the team?
Binance  don't need to conduct an ieo to redirect attention because this is part of the service they already offered to their users, and as for the fud, i don't see any significant changes to peoples interest towards binance because every rational thinking crypto user knows the sect are not being honest with their constant harassment towards binance.
And don't expect any bull run because of an ieo because binance is not the triggering tool for bull run.  ;D

Binance launchpad is always massive opportunity to make big profits. I was got chances in their a project in the last year, i got 400$+ profit against 100$ investment i forgotten what was exact amount. I didn't hold any BNB now, so i missed this launchpad.

Rush? I dont think they are, its been more than a month since their last launchpad and unlike before they got 2 projects in a month so this is quite okay for the timeline especially when the time of fud. They need some activity in order to refresh investors mind on the sec fud last time. Launchpool projects are like airdrops to bnb holders by simply joining so its not an investment offering compared to launchpad.

I'm sure this project will be successful like the previous project on Binance Launchpad, therefore I don't think it's a loss to buy BNB and participate in this Launchpad, because I believe the price will definitely increase very high (at least 15x from the initial price), therefore I personal will also participate in this Launchpad and will continue to do DCA BNB, because BNB can give me profit from staking and Binance Launchpad or Launchpool, then I believe if the price of BNB will continue to increase very high.

This Launchpad is something I have been waiting for from Binance. I have benefited a lot from buying some of the launchpads from Binance in the last year as they are almost certain to make good profits. Can't wait to get it on the early price offer.

The fact that the token's launchpad will be on the Binance shows that they're in partnership with Binance. And, binance will never be in partnership with any project without a solid base of team with good names in the crypto world.

Good to hear that but not all project will incurred good profits. But doing a research for that might increase our chance. Like the concept of arkham probably some hate it due to exposing a lot of identity and they got issues about that recently. Obviously scammers are not supporting this project and probably be scared but some people who are into their privacy also dont like the idea so its a mix community and that could also be a factor for a price action on their launch and in the coming days.

Sounds like u hold a chunk of bnb to pledge for a good allocation. To be honest, I haven't had much experience with binance launchpad project since I don't have the kind of bnb that would really give a good allocation.
I was not very happy with the allocation I got from one of such launchpad project so I decided to not bother anymore.  I see it as a place for the whales only.

I also see them as having a clear mission to 'deanonymize the blockchain', monitor against legitimacy and pools and tackle the growing problem of crypto hacking by incentivizing on-chain research. I will think about this a lot.

It's understandable that any amount will make a difference in the distribution. As far as I understand, the system is not lottery based, but based on distributing tokens to all pool members after a snapshot is taken. They will then distribute the tokens according to the weight of your locked BNBs. I've read feedback from some participants that they blocked a few BNBs and receive $1.5 worth of new project tokens. Questionable business. Deposit about $1000 on a centralized exchange to be able to get new tokens worth $1-$2.

Its a launchpad system. You could not expect a $1000 worth of new tokens with your $1k equivalent since there are many participants and it will weigh base on each snapshot holding. The total token has limit so they will based it on total bnb committed. Imagine 50million tokens would be shared and redistributed to dozen of users. I know it might not valuable to some but for those huge bnb holder they are clearly gonna have profits from this. So have you join your 5bnb? Its commit time now. Later after that youll know how many tokens you can buy.

Binance launchpads never were a source of money. This is more like an advertisement of a project. You deposit $1000 and you are sure that you wont lose it, but get few dollars of income. Your $1000 wont turn into <$1000 after launchpad is over. Consider it as a safe airdrop where you have to make a deposit for a short period of time. Or earning easy few dollars in few hours for doing nothing (if you have BNB on Binance).

I havent participated in launchpads for a while, but in the past, deposited 1.09 BNB into stepn gave me 52 GMT on 09/03/2022, deposited1.09 BNB into Alpine F1 gave 0.56 ALPINE on 21/02/2022, deposited 1.09 BNB into League of Kingdoms gave 2.83 LOKA on 20/01/2022.

Actually for those who bought bnb at very low price this can be considered as free money always when launchpad and launchpool arrived at binance. But if they are buying bnb at high price and join theres a tendency of loss when bnb go down but it will always go up since many have like binance launchpad to spot new projects and keep joining.

I don't think there is too much risk holding $BNB now, the token has been beaten badly recently, because of the FUD surrounding the exchange the price of the tokens has not seen much growth. To me BNB can easily do 10X from the current price, if people believe Ethereum is going to hit $10k, I don't see why BNB won't hit $2k in the next bull run, so holding BNB to participate in Launchpad and Launchpool is not a bad risk to take.

If BNB dumped I will continue to buy because it is one of the sound tokens on the market

Thats gotta be good if will do 10x from here. Im not saying I wont like it since Im a holder and launchpad participant too. Im also doing scalping of bnb through other coins I am trading there cause its pumping when there is a new project that will line up for a launchpad or launchpool activity.

So you did join this one for arkham?

Different launchpads provide different conditions. On some launchpads I can have nothing on deposit at all, but I will be given the opportunity to buy new tokens for 1000$. IEO launchpads have very unfavorable conditions for making profit, because they distribute tokens to all participants, only those who have a lot of money can earn good money, and users with a small deposit on such launchpads have nothing to do. The only advantage of such platforms is that after listing they have 100% TGE.

You are right, BNB already dumped after sec security case and after XRP winning the case many coins having sec security case rose up like solona, xlm while BNB did not rose up. Anytime we can see sudden pump in bnb price just like xrp. i think it is best time to buy and hold. I wonder people who deal who feeling fear now to buy and when its price rise above 300 then they will buy comfortably.

Arkham project is the first time i will participate in Binance Launchpad and the whole process seems confusing, Arkham seeks to raise 2.5M and as the time of writing this about 7M BNB has been locked from about 110,794, i am waiting to see how they will distribute the tokens and what each participant will get

Yes thata true and on almost all of my experience most launchpads are like this, and required to hold tokens of their platform in order to join. Can I ask what platform you are talking about in which you could allow to invest on launchpad without staking any tokens?

The tokens youll received is base on your bnb holding during the snapshot period.

Like I said, Arkham benefited well from the Binance effect and has done over 12x from the launchpad price. So good to see a lot of people celebrating their wins from participating in the sale itself to getting the airdrop from their referral program. Congratulations to everyone who benefited.

Anybody on the forum got into the sale? Projects like Arkham that are low on the radar before getting the limelight at launch time go the hardest.

Congrats to all the bounty hunters who continue to work despite of uncertainty with this project, now they are enjoying the huge profit from this airdrop.

I was not able to participate on the launchpad, though I saw a lot who are qualified for the Arkham. Now, I'm looking for a new project that can have a huge airdrop too.

Wish to experience this kind of airdrop as well, anyone here who are able to get the airdrop? what's your lucky source for this?

Just sign up on some waitlist. I know a very good project right now but since its a referral I cant post it here. I could pm you if you are interested to join, its also a good project which I researched backed by Binance too.

---

Also for anyone interested I could direct message you the link, dont want to post it here as Im aware its not allowed.

Because most launchpad platforms work according to the IDO principle. In order to be allowed to participate, I need to staking tokens of this platform. IEO launchpads have roughly the same scheme.


Tokensoft, Coinlist, Republic.

I was lucky to get in on it and ended up with some free money. Projects like Arkham are currently very low, but this project has potential to big later. This could be a fantastic chance to turn our small investment into a much bigger amount before the project getting into limelight.

Finally 32nd Binance launchpad Arkham Project have been listing in Binance last few hours and congrats for participants earn more than x30 profitable from current pre sale price $0.05 and listing success reach higher $0.8. Its amazing profitable for investor join with Binance launchpad because last several project never make us disappointed because price listing have been success up drastically.

I am disappointed with coins pool allocation, hold 10 BNB seems very small fund in 32nd Binance Launchpad, I earned 50 Arkham with Binance deduction 0.01 BNB, its not interested with Binance launchpad pool allocation. Profitable for holder has much BNB and we are small BNB holder earn small pool allocation of ARKM coins.

Oh I see. Ive been participated on tokensoft before but only once. Ive participating on coinlist eversince and its barely let me join due to their queueing method. Also theres need a high value karma requirement there in order to join securely which you could attain by being actively using their platform. These are high tier platform that arent easy to get a slot on ido. For me having staking tokens from their platform would be easier. Coinlist is good but too hard to enter there.

Its because its masisvely joined by many. Me myself join and earned not so big tokens but still its a profit considering the price and if you have bnb during its low time.

I think it was more of free money for people than the actual sales on the launchpad as I read online of its airdrop. The airdrop was specifically for Binance users who had to apply by enlisting their emails and address on some private wallets like Metamask and TW.

Got lucky to discover it as early as other people but as unlucky as the majority of the users who forgot to connect their wallet. I invited more than 5 friends on my Arkham account but I'm so dumb to disregard the emails and announcement of the team that I need to connet the wallet to be eligible to an airdrop. The points I have in my account is useless unless they Arkham team conduct a second airdrop which many airdrop joiners are anticipating and hoping for.

I still believe this is better than the raffle draw they were using before, the main reason is to get everyone involved in the Launchpad and not only for the whales and the big wallets, because if it is raffled the odds will be against small accounts. I don't think there is any format that they will employ that people won't complain, 50 tokens is good for the weekend

I agree, coinlist has a lot of competition among potential investors and in order for you to get allocation, you must have priority conditions, such as karma, role in discord, some activity in test networks, etc. At the same time, we have to admit that coinlist is overtaking most launchpads in terms of profitability of their projects with the system of platform token staking in order to be eligible for participation. It should be recognized that most launchpads with this model of allocation are not profitable now and almost all sales start below the purchase price.

Overtaking in terms of profits? Im not so sure about that maybe past projects buy if you look on their latest projects like neon and archway, how can you compared that to binance launchpad performance. I think my last sale there was casper if I remember it correctly and I only join the common round unlike the one who can invest $1k. So in comparision, I think Binance is much way greater if you want to participate rather than gamble with a lots of queing method of coinlist.

Now the hype has died down, in addition the new coinlist rules are playing against them. The community is losing confidence in the platform. If we take coinlist's performance as a whole, not this year's sales, they have impressive results among the platforms that do not require staking platform tokens. Right now, binance remains one of the best platforms for new tokens, but it has a significant drawback. How much BNB do you need to have to get a $500 allocation? Such amounts are out of reach for most crypto users, coinlist and tokensoft were more democratic in this regard.

thats true its the free money thats worth it.
if it's for investment i don't think it will give massive returns, even those that try to get share in binance only get minscule amount that I don't think it will be rising in the future when
all the allocation of money are heavily distributed through airdrops.

Congratulations to those that have been part of this airdrop. I am always late as I am not optimistic anymore with these airdrops but it seems that there are still some exception with a few project. It's always like this that there's the hype and you get to be a part of it and then when the distribution is done, you only have to wait until the exchanges open the deposits for everyone to dump it. That's usually the cycle of it and you have to be quick on it as the markets are surely going to reflect down when they open the markets on it from exchanges.