Binance Launches Pre-Market Spot Trading for Early Access to Launchpool Tokens
Binance, the leading global blockchain ecosystem that powers the worlds largest crypto exchange by trading volume, has launched Binance Pre-Market today. Select Binance Launchpool token subscriptions will be made available for pre-market trading on Binance Pre-Market, increasing trading prospects on Binance for all users and providing Launchpool participants with more utility.
By enabling users to take an early position before to a tokens spot market listing, pre-market trading enables the community to voice its opinions on a certain token project. A separate notification about the formal spot listing will be made by Binance, and each pre-market trading session will aim to conclude at least four hours prior to the commencement of spot trading.
Tokens will be exclusively allocated and created for users to hold and trade in the pre-market on the Binance platform. Binance is the only cryptocurrency exchange that offers pre-market spot trading.
When a project from the Launchpool is chosen for pre-market trading, Binance will make an announcement along with the commencement date of the pre-market. Users still get their allocated tokens and subscribe to Launchpool as usual. All Binance users will be able to trade the Pre-Market tokens, which will be marked with the term Pre-Market for convenience, as soon as the pre-market period begins.
Pre-Market trading is another way that Binance is giving certain projects a chance to interact with people early in their development.
Among the advantages of Binance Pre-Market are:
- Early market entry: Before the tokens are listed on the spot market, users may purchase or sell them.
- Stringent token vetting: On Binance, every token goes through the same rigorous screening procedure.
- Most liquid exchange: There is more demand for users trading positions on Binance, the biggest and most liquid digital asset exchange.
- No additional fees: The only fees paid by users are the usual Binance spot trading fees, which are already quite competitive.
- More utility for Binance Launchpool users: Launchpool members may trade their allocated tokens in the Binance Pre-Market by taking advantage of early market fluctuations.
Vishal Sacheendran, Binance Head of Regional Markets, commented:
We built Binance Pre-Market to meet user demand for pre-market spot trading, and enhance the Binance ecosystem so users can enjoy greater utility and token projects can extend their lifecycle on our platform. Binance has always been focused on delivering for our users and we continue to invest in features to give our users the best experience we can.
The introduction of Binance Pre-Market comes after a number of other new product releases that have improved the Binance platforms user experience. This quarter, Binance released Binance SOL Staking and Super Earn. Earlier in the year, the exchange unveiled Megadrop and HODLer Airdrop.
See this FAQ for further details regarding Binance Pre-Market.
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
