Binance opened a pre-market that allows users to buy, sell and trade tokens before they are listed on the cryptocurrency exchange’s spot market, all within its platform. The tokens that can be pre-marketed without commissions, with the aim of anticipating trends and future market movements, are those of the launchpool from Binance.
Binance launchpool tokens are received as a reward for staking cryptocurrencies within the exchange. This is a form of passive income that allows exposure to tokens and projects recently launched on the market through this exchange. All Binance users can purchase and trade tokens in the premarket, not just Binance regulars. launchpool.
What is the Binance premarket for?
When Binance has listed a cryptocurrency on spot, it has sometimes happened that its price in the markets usually experiences a considerable upward effect. The Binance premarket is useful both as an operational advantage and as a predictive strategy against this event of listing.
Users who visit the Binance premarket will be able to purchase a certain cryptocurrency and wait for it to be listed on the exchange’s spot market. You will be able to sell said token, for example, directly in spot or in the fast version, Binance Convert.
Most, if not all of the tokens listed in the launchpool They end up being introduced into the spot market. This means that buying in the premarket It gives the advantage of selling them faster than other people by appearing on spot. A premarket sale It also helps ensure profits facing a possible news sales event.
According to Binance, all users will be able to participate in the pre-market on its platform, except residents of the following regions: Canada, North Korea, Cuba, Netherlands, United Kingdom, Russia, United States of America and Puerto Rico.
How does the Binance premarket work?
The maximum amount of tokens that can be purchased in the pre-market varies depending on the project. Buying in the anteroom will not be possible for users whose holdings already exceed the maximum limit within their wallet or in incomplete active orders. There is no limit amount for the sale of these tokens.
According to Binancethis is the order of events that begins in the launchpool and ends with the spot listing of a token:
- Launchpool subscription ends.
- Launchpool rewards are distributed.
- Transfers and deposits are temporarily suspended before starting the pre-market.
- Binance opens the premarket.
- Binance ends pre-market trading and opens transfer and deposit functionality.
- The token moves from pre-market trading to spot trading.
- Token withdrawal opens on the date and time indicated in the listing announcement.
To access the pre-market, users must enter the Binance spot trading section. Once there, under the text box to search for cryptocurrencies, the premarket section appears.
At the time of writing, sOnly one token is included in the pre-market category. This is the SCR/USDT pair. As can be seen, the market possibly anticipated the spot listing of SCR when this token was introduced in the launchpool and in the premarketwhich is why its price grew by 187%. The volatility of the pre-market is marked, and could also be expressed in a drop in prices.
