#说一些你不知道的事儿
You may have seen a super hot new token like $VANA , which has increased by +2400%, and you must be wondering: "Is it really possible that someone is so lucky that they bought it at $1 and sold it at $25.70?" Don't panic, let's figure it out now.
Every time a large cryptocurrency exchange like Binance launches a new token, three important prices must be set before trading begins:
1. Opening price: This is the price at which formal trading begins, and everyone starts buying and selling from here.
2. Highest price of the day: This is the highest point of the first candlestick (the column in the trading chart that shows the price trend) when trading just starts.
3. The lowest price of the day: It is usually determined according to the ICO (initial token offering, which is the price at which the project starts to raise money and sell coins) or the launch board price, which is basically the initial bottom price of the project.
Take #VANA as an example:
The lowest price is $1, which is the price at the beginning of its ICO or on the launch board, and is the valuation at the beginning of the project.
The highest price soared to $25.70, either due to market speculation or referring to the prices of other exchanges.
The opening price is about $21.79, and ordinary investors have to enter the market at this price.
The key is to understand: at the beginning of the transaction, no one can really buy and sell at $1 or $25.70, and everyone starts trading at the opening price. The super exaggerated +2400% increase is actually the profit earned by those who participated in ICO or seed investment in the early stage compared with the current price, which is different from the situation of ordinary investors entering the market.
These scary increase figures are all marketing methods used to attract people, not magical things. Don't get carried away by the hype, you have to understand the price changes here.
Why is it important to understand this? Because once there are more tokens circulating in the market, the price will change with market demand and total market value, and it may rise or fall. Only by understanding the rules can we not be led by the market.
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