### What is the Pre-Market in the Cryptocurrency Market?

Trading in traditional financial markets has several limitations that are absent in the blockchain industry, particularly regarding operating hours. Traditional exchanges have fixed schedules, limiting traders' opportunities. To address this, platforms introduced pre-market trading, allowing trades between sessions. This concept also exists in the blockchain market but focuses on preliminary trading of not-yet-issued tokens.

The cryptocurrency pre-market involves off-exchange deals trading announced but not-yet-released tokens. It operates on a P2P system where buyers and sellers lock assets as guarantees. On the issuance day, the seller transfers the token to the buyer, triggering payment and deposit returns. If the deal fails, the platform compensates the buyer with the seller's deposit.

Unlike spot markets, pre-market trading starts post-announcement and ends before or at the TGE (Token Generation Event). The decentralized protocol Whales Market and exchanges like Bybit and KuCoin support this trading type.

Pre-market trading offers opportunities to buy tokens cheaper than post-listing prices but comes with risks of overpaying. Sellers may benefit from low pre-market prices. This trading can help gauge an asset's spot market value despite low liquidity. It's also useful for airdrop hunters and sale participants to secure post-TGE profits or await exchange listings.

The pre-market is a new tool for P2P deals with announced tokens, offering potential but requiring risk consideration. It provides new trading opportunities in the cryptocurrency market.