The Kasta (KASTA) token fell 17% to US$1.17 on Wednesday ahead of its initial exchange offer (IEO) on Bybit Launchpad. The 24-hour trading volume jumped over 19% at 11:19 am ET.
Bybit is a popular cryptocurrency exchange among derivatives enthusiasts.
Kasta’s launch on Bybit will boost its visibility and attract more users and investors. The Bybit exchange provides advisory and listing support for IEOs.
It also offers initial promotional and engagement support to crypto companies.
Kasta IEO details
- Total Supply: 1,500,000,000 KASTA
- Tokens for sale on Bybit Launchpad: 25,000,000
- Cap Per User: 9,500 token
- Committed Token: BIT
Its subscription period is from 3:30 am to 10:59 am UTC, while the distribution period is from 11:00 am to 11:59 am UTC on Jan 5, 2022.
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The IEO gives the Kasta project some reliability as exchanges have their selection standards and exercise due diligence before inviting the crypto companies for IEOs.
IEO companies are considered more reliable than those offering initial coin offerings (ICOs). The IEO projects are generally ready for trading within a week of their launch.
How to participate in Kasta IEO
Users must have a Bybit account with complete KYC compliance for Kasta transactions. They also must hold BIT in their account.
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Bybit Cryptocurrency Exchange
The Bybit exchange grew to over three million registered users since its launch in March 2018.
It claims to offer “smart, intuitive, and innovative online trading, staking, and mining experience” to clients. It also has 24/7 customer support in various languages.
Kasta is a blockchain-based alternative to mobile payment services. Its platform strives to make peer-to-peer (P2P) payments simple and accessible.
It aims to make cryptocurrency adoption easier for payments globally and improve the functionality of financial services. Its native token is KASTA.
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The token is built on the Polygon network. The company uses a hybrid-decentralized approach, where users can make cryptocurrency transactions faster and for free.
The token is currently available on Bybit exchange.
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Bottomline
The cryptocurrency market is volatile. Therefore, investors should apply due diligence before investing in digital assets.
