Sophon launches SOPH token at a price of 0.07 USD on Binance
The leading exchange in the market lists SOPH with an initial price of 0.03 USD, rising sharply to a peak of 0.088 USD before returning to trade at 0.07593 USD. Sophon's token recorded an increase of over 153% in the first few minutes of trading.
Sophon’s TGE event marks an important milestone for the project, especially with strong support from Binance.
Before the Binance HODLer Airdrop and spot listing, users received rewards and traded SOPH tokens through Binance Alpha. Binance Futures lists the perpetual contract SOPHUSDT with a maximum leverage of 50x, providing trading opportunities for the community.
At the time of TGE, the initial circulating supply of tokens was 2.5 billion SOPH, accounting for 25% of the total supply. The entire token is expected to be gradually released over 5 years. The allocation structure includes:
- 57% for the community, a high allocation compared to many other cryptocurrency projects, helping to reduce selling pressure.
- 9% for airdrop, with the remainder going to the ecosystem fund and node rewards.
Notably, the tokens of the team and investors are locked for one year after TGE. Selling pressure mainly comes from node rewards, as some node operators may sell to cover costs and seek profits.
