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Cryptocurrency News Articles
Binance Launches New Pre-Market Trading Service, Allowing Users to Buy and Sell Tokens before Official Listing
Sep 26, 2024 at 04:47 am
This gives users an opportunity to acquire tokens early, ahead of public trading. A pre-trading market allows the buying and selling of assets
Binance has introduced a new Pre-Market trading service that allows users to buy and sell tokens before they are officially listed on the exchange. This provides users with an opportunity to acquire tokens early, ahead of public trading.
In a pre-trading market, assets like cryptocurrencies or stocks can be bought and sold before the official market opens. This allows traders to respond to any overnight news or events and make trades earlier in the day.
While investors can adjust their positions before the main trading day begins, the lower trading volume during this time can result in more unpredictable price movements.
The launch of Binance's Pre-Market trading service is expected to have a significant impact on the crypto market, considering that it is the largest cryptocurrency exchange by trading volume. The pre-market enables traders to buy or sell cryptocurrencies before regular trading hours, allowing for more flexibility and a quicker response to important news or events that occur outside normal trading hours.
This additional trading time provides increased opportunities for profits and reduces the risk of losses. It also aids in more accurate price discovery by allowing the market to respond to real-time events. This extended trading period may lead to higher market activity and attract more traders, including those from different time zones or with busy schedules.
This can also lead to increased trading activity as investors rush to secure positions in promising tokens, potentially driving up demand and prices. However, it also introduces the risk of sudden price changes, as there might be fewer buyers and sellers active during these hours, leading to unpredictable price movements.
Other exchanges have also launched similar services recently. OKX introduced pre-market futures in August 2024, and Bybit announced its Pre-Market Perpetuals in the same month. Additionally, Gate commenced similar services in the first week of September.
The launch of the pre-market by crypto exchanges coincides with the recent surge in TON-based projects. Binance, with its significantly higher trading volume compared to other top exchanges, stands out as a market leader, and with its Launchpool service, it has the potential to significantly transform the pre-market landscape.
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