Acquista cryptoMercatiSpotFuturesUSOILEarnCentro eventi
Altro
Gold vs Crypto
The post RNBW Tanks 65% Below ICO Price on First Day of Trading appeared on BitcoinEthereumNews.com. The launch was plagued by reports of delayed token distributionThe post RNBW Tanks 65% Below ICO Price on First Day of Trading appeared on BitcoinEthereumNews.com. The launch was plagued by reports of delayed token distribution

RNBW Tanks 65% Below ICO Price on First Day of Trading

Autore: BitcoinEthereumNews
Fonte: BitcoinEthereumNews
2026/02/07 02:10
3 min di lettura
Rainbow
RNBW$0.01737-0.74%
SIX
SIX$0.00907+0.66%
Per feedback o dubbi su questo contenuto, contattateci all'indirizzo [email protected].

The launch was plagued by reports of delayed token distribution to early investors and technical issues.

Self-custodial Ethereum wallet Rainbow debuted its native token RNBW yesterday, Feb. 5. But the project’s token generation event (TGE) on Base, and the token’s debut for trading across exchanges, were met with reports of delayed distribution to ICO participants, which contributed to the token’s poor day-one performance.

RNBW/USD 15-minute chart, Feb. 5-6. Source: Coinbase

According to Coinbase data, RNBW hit a high of $0.05 on its first day of trading, but fell quickly and closed the daily session around $0.034, down more than 30%, putting its fully diluted valuation around $34 million.

That left most bettors on Polymarket scrambling, having expected the FDV to hit roughly $100 million just a day after the TGE.

Today, RNBW fell further, trading around $0.032 by press time, making its FDV around $32.17 million.

ICO Investors in the Red

The price is far below what early buyers paid. Rainbow conducted its initial coin offering (ICO) in mid-December 2025 via CoinList, where investors were offered RNBW at $0.1 per token. The sale saw 30 million RNBW tokens, or 3% of total supply, sold at an FDV of $100 million, meaning participants in that sale are now down more than 65% on their investments.

For U.S. investors, the situation could be even worse as their full token unlock won’t happen until December of this year, according to CoinList’s terms and conditions.

Back in 2022, Rainbow raised $18 million in a Series A funding round led by Seven Seven Six, the VC firm from Reddit co-founder Alexis Ohanian, bringing total funding to $21 million. The multi-chain wallet is known for its rewards program and gamification, where users can earn points for their on-chain activity.

The firm explicitly connected RNBW with its points system when it first announced the token in September.

‘No Better Day for TGE’

The token’s drop came amid a broader market bloodbath that wiped out $2.6 billion in liquidations in a single day. Total crypto market capitalization fell to $2.3 trillion as Bitcoin slid toward $60,000, reaching roughly 50% below its all-time high of $126,080, set in October.

Soon after its TGE, Rainbow’s cofounder Mike Demarais indicated in an X post that some users had not received their claimed tokens, explaining “it’s because our backend token indexer has been getting slammed.”

As frustration over the messy launch mounted, Rainbow CEO Alex LaPrade took to X on Thursday evening eastern time to say he still believes “there was no better day for TGE than today,” noting that the project had planned to launch its token on Feb. 5 back in December. LaPrade added:

But the CEO’s public statement didn’t succeed in calming all investors. Some quickly fired back at the CEO, accusing the project of late token distribution to ICO participants, calling it a scam and demanding refunds.

Last year, MetaMask confirmed that it has plans to launch its own token, after years of hinting and speculation.

Source: https://thedefiant.io/news/tokens/rainbow-token-rnbw-tanks-65-below-ico-price-on-day-one-trading

Opportunità di mercato
Logo Rainbow
Valore Rainbow (RNBW)
$0.01737
$0.01737$0.01737
+0.57%
USD
Grafico dei prezzi in tempo reale di Rainbow (RNBW)
Disclaimer: gli articoli ripubblicati su questo sito provengono da piattaforme pubbliche e sono forniti esclusivamente a scopo informativo. Non riflettono necessariamente le opinioni di MEXC. Tutti i diritti rimangono agli autori originali. Se ritieni che un contenuto violi i diritti di terze parti, contatta [email protected] per la rimozione. MEXC non fornisce alcuna garanzia in merito all'accuratezza, completezza o tempestività del contenuto e non è responsabile per eventuali azioni intraprese sulla base delle informazioni fornite. Il contenuto non costituisce consulenza finanziaria, legale o professionale di altro tipo, né deve essere considerato una raccomandazione o un'approvazione da parte di MEXC.

Potrebbe anche piacerti

Here’s How Consumers May Benefit From Lower Interest Rates

Here’s How Consumers May Benefit From Lower Interest Rates

The post Here’s How Consumers May Benefit From Lower Interest Rates appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday opted to ease interest rates for the first time in months, leading the way for potentially lower mortgage rates, bond yields and a likely boost to cryptocurrency over the coming weeks. Average long-term mortgage rates dropped to their lowest levels in months ahead of the central bank’s policy shift. Copyright{2018} The Associated Press. All rights reserved. Key Facts The central bank’s policymaking panel voted this week to lower interest rates, which have sat between 4.25% and 4.5% since December, to a new range of 4% and 4.25%. How Will Lower Interest Rates Impact Mortgage Rates? Mortgage rates tend to fall before and during a period of interest rate cuts: The average 30-year fixed-rate mortgage dropped to 6.35% from 6.5% last week, the lowest level since October 2024, mortgage buyer Freddie Mac reported. Borrowing costs on 15-year fixed-rate mortgages also dropped to 5.5% from 5.6% as they neared the year-ago rate of 5.27%. When the Federal Reserve lowered the funds rate to between 0% and 0.25% during the pandemic, 30-year mortgage rates hit record lows between 2.7% and 3% by the end of 2020, according to data published by Freddie Mac. Consumers who refinanced their mortgages in 2020 saved about $5.3 billion annually as rates dropped, according to the Consumer Financial Protection Bureau. Similarly, mortgage rates spiked around 7% as interest rates were hiked in 2022 and 2023, though mortgage rates appeared to react within weeks of the Fed opting to cut or raise rates. How Do Treasury Bonds Respond To Lower Interest Rates? Long-term Treasury yields are more directly influenced by interest rates, as lower rates tend to result in lower yields. When the Fed pushed rates to near zero during the pandemic, 10-year Treasury yields fell to an all-time low of 0.5%. As…
Condividi
BitcoinEthereumNews2025/09/18 05:59
Tunis–Carthage Airport Expansion Targets Capacity Surge

Tunis–Carthage Airport Expansion Targets Capacity Surge

Tunisia’s Tunis–Carthage airport expansion is set to transform the country’s aviation capacity as authorities plan a $1 billion investment to significantly increase
Condividi
Furtherafrica2026/03/10 13:00
Hoskinson to Attend Senate Roundtable on Crypto Regulation

Hoskinson to Attend Senate Roundtable on Crypto Regulation

The post Hoskinson to Attend Senate Roundtable on Crypto Regulation appeared on BitcoinEthereumNews.com. Hoskinson confirmed for Senate roundtable on U.S. crypto regulation and market structure. Key topics include SEC vs CFTC oversight split, DeFi regulation, and securities rules. Critics call the roundtable slow, citing Trump’s 2025 executive order as faster. Cardano founder Charles Hoskinson has confirmed that he will attend the Senate Banking Committee roundtable on crypto market structure legislation.  Hoskinson left a hint about his attendance on X while highlighting Journalist Eleanor Terrett’s latest post about the event. Crypto insiders will meet with government officials Terrett shared information gathered from some invitees to the event, noting that a group of leaders from several major cryptocurrency establishments would attend the event. According to Terrett, the group will meet with the Senate Banking Committee leadership in a roundtable to continue talks on market structure regulation. Meanwhile, Terrett noted that the meeting will be held on Thursday, September 18, following an industry review of the committee’s latest approach to distinguishing securities from commodities, DeFi treatment, and other key issues, which has lasted over one week.  Related: Senate Draft Bill Gains Experts’ Praise for Strongest Developer Protections in Crypto Law Notably, the upcoming roundtable between US legislators and crypto industry leaders is a continuation of the process of regularising cryptocurrency regulation in the United States. It is part of the Donald Trump administration’s efforts to provide clarity in the US cryptocurrency ecosystem, which many crypto supporters consider a necessity for the digital asset industry. Despite the ongoing process, some crypto users are unsatisfied with how the US government is handling the issue, particularly the level of bureaucracy involved in creating a lasting cryptocurrency regulatory framework. One such user criticized the process, describing it as a “masterclass in bureaucratic foot-dragging.” According to the critic, America is losing ground to nations already leading in blockchain innovation. He cited…
Condividi
BitcoinEthereumNews2025/09/18 06:37