When a new coin is launched and a percentage is displayed based on the lowest price of that candle, and the price where the market is now is $VANA , it has now increased by 2400%.
The mistake is that people think that there are people who bought it for $1 and some for $25.7.
When Binance adds a new coin, it must quote three prices before trading begins.
Opening price
Highest price of the day
Lowest price of the day
For example, the low of #VANA is $1, the high of the first candle was $25.70, and the opening price was around $21.79
The decreases are mostly dependent on the ICO price of that coin or the launch price, while the increases are either random or depend on the CMC if it is already trading on other exchanges. Sometimes both can be just random numbers depending on the market value at the time of launch.
So the percentage you see on the screen is the difference between the ico/launchpad price and the current market price. This is the percentage received by the ico or initial investors.
Like I said, they have to add 3 prices before launch, and there is no way anyone can buy at $1 or $25.70 while trading is in progress. Everyone buys at the price at which the trade starts. Don't be impressed or surprised by these numbers, learn how these things work. This is important.
