There’s a common misconception that I want to clear up for you today. When a new coin launches, and you see headlines like “$VANA up 2400%!” based on the low of the first candle and the current price, many people assume that some lucky individuals bought it at $1, while others purchased it at $25.70.
Here’s the reality:
When Binance lists a new coin, they establish three key prices before trading begins:
Opening Price
High of the Day
Low of the Day
For example, in the case of $VANA, these were the initial values:
Low: $1 (usually based on the coin’s ICO or Launchpad price)
High: $25.70 (either a random figure, based on CoinMarketCap data if the coin is already listed elsewhere, or determined by the market cap at launch)
Opening Price: Around $21.79
These numbers are set beforehand and don’t represent actual trading activity. The “low” price often reflects what ICO or early investors paid, and the “high” is largely arbitrary, influenced by factors like early market projections.
The percentage increase you see (e.g., 2400%) simply measures the difference between the ICO/Launchpad price and the current market price. It doesn’t mean anyone bought at the extreme low or high prices listed. Once trading begins, everyone buys at the starting market price—there’s no magical $1 entry point.
Why This Matters
Don’t be misled by flashy percentage gains. Those figures reflect returns for ICO or seed investors, not retail traders entering after the listing. Understanding how Binance sets these three prices will help you make smarter, more informed decisions.
Stay informed. Trade wisely.