Binance has announced the launch of a premarket, and it will be a completely different premarket than on other exchanges, reports #TheBlock.
A#Binancerepresentative told TheBlock that, unlike its competitors, Binance offers pre-trading of “real tokens” rather than derivatives:
“Binance is the only cryptocurrency exchange to offer pre-spot trading, where tokens will be allocated and generated exclusively for users to hold and trade on pre-spot trading on the Binance platform.”
We've read the details - this is indeed a very significant change. It will affect the starting price when listing new projects.
The Binance Pre-Market service is a joint project between Binance Spot and Binance Launchpool that allows users to acquire new project tokens through staking.
Only selected Binance Launchpool tokens will be available for trading on their pre-market. While Launchpool tokens are currently held by users until they are officially listed on Binance, with the Binance Pre-Market, users can trade these tokens immediately, subject to restrictions such as withdrawal, transfer, and deposit limits until the official listing.
Once pre-sale trading begins, all Binance users will be able to trade tokens tagged as “pre-sale.” The pre-sale period will close at least four hours before the official spot trading, with a separate listing announcement.
Binance Pre-Market is not available in some regions, including the US, Canada, Dubai, Japan, the Netherlands, Russia, and Spain.
