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CRYPTO MECHANIC
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There is a big misconception in people and I'm going to clear your doubts today.
when a new coin launched and it shows a percentage based on the low of that candle and the price where the market currently is like #strk is up 900% right now.
The misconception is people think there are some people who bought it at $0.2 and some at $7.7. some may have made big money and some may lose a lot but this is not the case.
When binance adds a new coin they have to mention three prices before the trading starts.
opening price
high of the day
low of the day
for example $STRK low is $0.2 and high is $7.7 and the opening price was around $3.
the low is mostly based on that coin's ico price or the launchpad price and the highs is either random or it's based on CMC if it is already trading on other exchanges.
So the percentage you see on screen is the difference between the ico/launchpad price and the current market price. it's the percentage that ico investors made.
like i said they have to add 3 prices before they launch there is no way someone bought it at $0.2 or $7.7. Everyone buys at the value where the trading starts. Do not get impressed or amazed by these numbers, know how these things work. it's important .
Stay educated.
when a new coin launched and it shows a percentage based on the low of that candle and the price where the market currently is like #strk is up 900% right now.
The misconception is people think there are some people who bought it at $0.2 and some at $7.7. some may have made big money and some may lose a lot but this is not the case.
When binance adds a new coin they have to mention three prices before the trading starts.
opening price
high of the day
low of the day
for example $STRK low is $0.2 and high is $7.7 and the opening price was around $3.
the low is mostly based on that coin's ico price or the launchpad price and the highs is either random or it's based on CMC if it is already trading on other exchanges.
So the percentage you see on screen is the difference between the ico/launchpad price and the current market price. it's the percentage that ico investors made.
like i said they have to add 3 prices before they launch there is no way someone bought it at $0.2 or $7.7. Everyone buys at the value where the trading starts. Do not get impressed or amazed by these numbers, know how these things work. it's important .
Stay educated.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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