Why can the newly launched coin be purchased at a minimum price of 1 dollar with a big bullish candle?

Whenever a new coin is launched, you will notice the percentage increase between the lowest point of the first candle and the current price. For example, the coin AVNA increased by 2450%, and many people think that those who bought at 1 dollar must have made a fortune, but that's not the case.

The truth is that when Binance adds a new coin, they must provide three prices before trading starts:

1. Opening price

2. Daily highest price

3. Daily lowest price

The lowest price of VANA is 1 dollar, the highest price of the first candle is 24.78 dollars, and the opening price is about 21 dollars. The lowest price is usually based on the ICO or release platform price, while the highest price is random or based on CoinMarketCap (if the coin has been traded on other exchanges). Sometimes, both the lowest and highest prices are arbitrary numbers, depending on the market cap at the time of release.

The percentage you see is merely the difference between the ICO/release platform price and the current market price. It reflects the returns obtained by ICO or seed investors.

As I mentioned, Binance must set these three prices before trading starts, so no one buys at 1 dollar or 24.78 dollars when trading begins. In reality, most people purchase at the opening price.

Don't be misled by these numbers; to put it simply, when it just launched at 1 dollar, you couldn't buy it at that price at all. By the time you actually see it, it has already increased by around 2450%.

In this volatile market, it is crucial to maintain sharp insight and calm judgment. Let us embrace this opportunity-filled time together and make the investment journey smoother. $BNB $BNB $BTC #加密用户突破1800万 #币安HODLer空投CAT、PENGU #圣诞行情预测 #ETH再度冲击4K