Binance introduced a pre-market spot trading feature to enable cryptocurrency investors to buy and sell tokens before their official market listing. The new service enables users to trade tokens generated from selected Launchpool projects ahead of their spot market listings.
According to the official statement, this approach targets Launchpool participants and promises to broaden the trading space for all Binance users.
Transition into Spot Market
This feature provides early access to potential investments, allowing users to establish positions before the tokens are listed widely. Pre-market trading periods will conclude at least four hours before the official spot trading, reportedly to ensure a structured transition into the spot market.
Binance expects the new service to give users an early market entry by enabling them to capitalize on early price movements by buying or selling tokens before they officially list. Users will reportedly incur only standard spot trading fees on the platform. Binance mentioned that those who engage with Launchpool can access greater utility by trading allocated tokens during the pre-market phase.
The launch of Binance pre-market is part of theexchange’s broader initiative to enhance the user experience on the platform. The exchange recently released other products, including Binance SOL Staking and Super Earn.
Binance Expands Offerings
In June, Binance relaunched Mastercard payments for crypto purchases. This followed Mastercard’s pause on the service last year due to legal challenges facing the crypto exchange in the US. Binance mentioned that the decision was reached after reviewing the processes that the crypto giant had implemented.
Thus, Mastercard announced support for Binance-related purchases on its network with plans to support other services, such as withdrawals.
Besides that, Binance launched spot copy trading to allow traders to replicate expert trading strategies. The new feature lets users automatically copy the trades of lead traders. The offering followed the unveiling of Binance’s futures copy trading, a service that allows users to diversify their portfolios and track performance with the capability to simultaneously copy up to 10 lead traders.
Meanwhile, Binance's Founder Changpeng Zhao was released from custody last week, according to a Bloomberg report. In his first public comments since being released, Zhao pledged to further invest in blockchain, artificial intelligence, and biotechnology. He was released from a California-based correctional facility, ending his four-month sentence.
This article was written by Jared Kirui at www.financemagnates.com.
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