What many people don't know about New Coin Launches on Binance.
Let's take $VANA as an example First listed on Binance, with the first candle around 2400%, many people think that some people bought it for $1 and others for $25.70 and are now millionaires. This is not true.
When Binance adds a new coin, it needs to mention three prices before trading begins: Opening Price: The price at which trading begins. Daily High: The highest price reached on the first day of trading. Daily Low: The lowest price reached on the first day of trading.
VANA's low is $1 (based on the ICO or Launchpad price). The high of the first candle was $25.70. The opening price was around $21.79.
Sometimes these values are just symbolic numbers, depending on the market value at the time of launch.
The huge percentage you see on the screen is the difference between the ICO/Launchpad price and the current market price. This represents the profit of the investors who participated in the ICO or Seed Round.
There is no way someone bought at $1 or $25.70 when trading started. Everyone buys at the price at which trading starts.
Don't be fooled by these numbers. They are normal.
Stay informed and trade wisely!
I hope this helps and good luck to everyone!
$BTC $VANA
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