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Project details:
RingX IEO starts on Bitfinex on June 16, 12:00 UTC.

Token Price: $0.08
Token Sale Goal: 50,000 USD
Maximum Purchase: 1,000 USD
Accepted currency: USDt

https://tokensales.bitfinex.com/ringx

Source: ICOdrops

Another IEO of Bitfinex, and the supply is so tight. They are selling less than 1million token to be able to achieve 50k usd. For me thats an easy goal and probably will take only less than minutes before it got filled up. I am not sure why they now started IEO process but I am sure that this will have a good trading price once started cause we all know Bitfinex has almost same caliber of Binance if you compared their market volume trades. What are your thoughts on this?

$ 50K is not that big. However, the sale of tokens limited to $ 50K is probably a very small volumm. What will they develop next with that $ 50K?

I also do not understand why they set goals with $ 50k, it is really too low to make investors excited. And I believe its price will not increase too much after being listed at this exchange

That is incredibly low target, I don't understand, is this for project development or for listing on bitfinex exchange? Also this is the first time I'm hearing about this ringx, only very limited people will be able to get their hand in the token, IEO with 50k worth of tokens will end in seconds

$50,000 that is very low when compared to what other platforms do achieve from IEO on other exchanges. Maybe it could be that they have already generated some funds from private investors and so on then going for IEO to complete it, only the team knows the best. However, I think with Bitfinex being one of the best exchanges, they will easily hit the target. Also, In my own opinion, I think for them to accept this project it might also be a reputed one, nevertheless will do my findings.

Bitfinex is a large stock exchange. For example, a maximum purchase of 1000 USD means only 50 people if their purchase is 1000USD, maybe this will be a struggle for investors and already know the real Ringx project, but have not seen the purpose of this RingX project and what products they feature from the project themselves.

And like it would be a good project if selling very little on Bitfinex would certainly be an instant sale.

They are going to develop a platform according to the details for bitfinex. I don't think they need a huge sum to develop such a platform. That's why the goal is too low. However, I don't think this is kind of gem to have an eye there. It's just another piece of shit project.

This is my first time seeing an IEO with such a low goal, and there will certainly be very few people who can buy this IEO and its price will probably be inflated very high because the supply is very limited.

Total supply is 500 million or 500000000 RINGX from which 30% will be available for token sale or total of 150 million. I don't think the supply is too low although there will be one year lock up period. Initially, the price may pump significantly due to the low supply in the market, however, it will be followed by huge deflation.

that is only a requirement to be listed on bitfinex. Sometimes the project didn't wanna get a lot of money caused by they have enough experience to developer a good project. You can even find some old projects too were doing the same thing like that.

For average investors, $1k is huge already, and I don't think that you can easily scoop this RingX token. As it is going to be very tight and for sure, whales will be in the fore front again. Yes, this could be sold out in less than a minutes.

But what is scary is after that, I don't think it will be sustainable. Once the price swings in the next couple of days, there could be a huge dump, which we have seen in most top tier supported IEO. Even Binance have delisted most of their above performing IEO's in 2019. So this might have the same fate.

Well, only 50 people can participate in this IEO, it's too hard for us to succeed with this IEO because their goals are too low. Btw never fomo it when it is listed at the exchange, the price will certainly be pumped up but will quickly collapse soon

I bought a bit of usdt from my bank card there to participate there. Hoping for 20% roe or bigger

Thanks for the share, but I will pass this out, not a whale here, just some casual trader. But the thing is that there is a lot of hype with this, specially launching at Bitfinex. And I bet that will be "gone in 60 seconds", as many are really waiting for this IEO.

I haven't check the full details, but for sure, Bitfinex has done its due diligence before allowing it to get launch on their platform. But it doesn't mean this could be "successful", it could also be an instrument for the classic pump and dump by some shady people behind.

didn't read the whole website but it doesn't sound like its an interesting project. whales might still be there for profit as usual. for a project to have IEO in a reputable exchange, its still going to be attractive for whales, its what will happen after that will be a mess. its $0.08 but after it, it might just drop to less than $0.01. bitfinex must have gotten huge amount of ringx token ready before whales could even sell.

many successful IEOs from Bitfinex exchanges but you can see how the results of IEO when entered at the exchange, and my advice if you still have some capital that is not too used then you can enter and participate in IEO so that when IEO is successful then you can get fortunately without missing it.

This is just a part of public sale of Ringx tokens. They plan to sell a total of 150million Ringx token through private and public sells according to their Whitepaper. The prices could be different on private sells. The 150 million tokes is still just 30% of the total supply of 500 million tokens. 70% of which are going to team and advisor and marketing.

So this is only the first sale on Bitfinex with a small allocation, then when will the private sale begin? is their marketing good enough to do marketing compared to IEO which is quite better than the sale?

Really only a part of a major sale? Can you share the details of this statement from yours.

Sorry I did not include this on my post cause I am not aware with the details of the public sale as these info are the only available on their announcement page. Based on the schedule it should be done already. Im not gonna wonder if this is a completed sale due to very low supply available for this IEO.

everyone is saying that their goal is low, whereas on the other side, if the project wants to raise millions of dollars -everyone will bash why the need of such huge amount!
it is better that they will start small and accomplish something, before they will do another token sale. because if the project has something to offer to the community, at least investors will be interested to take a second look on their project.

The IEO was successful and the price was 3.5 times higher than the IEO price. I am not too surprised at this price because they only sell $ 50k to IEO and it is really too little

This is not the first sale and bitfinex was also doing several token sales in the past and one of these sales called ultra token which has already listed on CMC too.

There was no different between the sale and the only different on the name of token sale.

It is another utility token that will be used as loyalty points, why would you buy something, that you can receive for free? It doesn´t make me sense. And investing 1000USD to try the luck, doesn´t seem convincing.

It all time high reaches up to 7.6x according ico drops. This is really a huge profits for those who manage to invest during its sale few days ago. Right now its on 4x price and still high compared to ieo sale price.

It still not convincing? They bought it for trading and profits. The trading price now is 4x so if you invest 1k usd its become 4k usd now. So which part does not make any sense?

Ringx has already reached its hardcap and it looks like most people who have invested in ringx just used it as a way to speculate for the price. You have been saying the correct point about that but it looks like people are still betting on it

But only $ 50k is sold to IEO, so there won't be too many investors getting a profit from it. And I don't understand why they implemented IEO with such a low goal

Yes. This is a very fast IEO token sales process. They only give one day's time, and tokens are sold within hours.
Token Sale Start Time: 06-16-2020 16:00:00
Token Sale End Time: 06-17-2020 16:00:00

The current price is 0.38630 USD
This is something extraordinary. The increase in prices is quite high.

it caused by ringx is wanna getting small money or it can be considered as a requirement only to be listed on bitfinex. I could say this will be a short term value but based the old projects were also getting the funds from bitfinex and it will be going back to the initial price for longer.

I think that can be another way for people to make more money from the token ;D

As long as people can profit from the project, that will attract more people to use the token. I think Bitfinex wants to expand its exchange by making an IEO like Binance and the other exchanges. If that succeeds, I think Bitfinex will launch another IEO in their exchanges, and that means more profit that Bitfinex can get from the people.

For me its easy to manipulate going to that price. If you think about it, the supply offered on the IEO is very small and even a group of 50 people can do a manipulaiton here buy buying their own token at their desire price. But for me, why let other people do it. Probably Bitfinex staged this to be like that but those 50k usd were already sold out before the sale started.

They trying to gain more attention using the project ringX. Now next many IEO will be conducted on Bitfinex because of this news of 7x price of ringX trading.

Is this just engineering to get a lot of attention, and take advantage, then they leave with the benefits they get.
Yes, indeed the amount of $ 50K is not a big value for crypto, because there are many other projects that generate millions of dollars in a matter of hours.
If we look at the initial listing of this project up to now, prices have risen hundreds of percent.

That's not the first sale on bitfinex. I remember bitfinex was doing some crowdsale too. there will be no private sale as the coin has already traded on bitfinex and investors have been making very good ROI from there.

Well, it doing well so far but that is very understandable for such a low number of the initial sales. The ROI for anyone invested in the beginning is good too but I still have my doubt since $50,000 is a very easy amount to manipulate if you want.

Don't be too sure, you are not among the team, neither one of their investors, sometimes mere analysis leads to loss of funds, if you feel like investing in the project, please do with any money you can afford to lose, don't dare invest all your life savings due to having too much hope in the project. Remember crypto space is unpredictable.

I remember they did IEO 1-2 times in 2019. But it doesn't bring too much profit to investors. The ROI of the first project was only 1.5X and a lot of people were disappointed with it

IEO is only held for 1 day and it's really beyond my expectations,
I think Bitfinex will need a few days to be able to sell all RingX, too bad I missed   :(