Binance has joined other major crypto exchanges to launch a pre-market spot trading service.
In a statement published on September 25, the crypto exchange stated that the service, which was tagged “Binance Pre-Market”, is designed to expand trading opportunities for its users as it allows them to take early positions on tokens before their official listing on the spot market.
The exchange’s users can now participate in trading selected Binance Launchpool tokens marked as “pre-market.” However, restrictions on withdrawals, transfers, and deposits will remain in place until the official listing. The pre-market period will conclude at least four hours before the official spot trading begins.
Binance expects the new feature to enhance user engagement with token projects right from their inception, enabling projects to connect with the community at an earlier stage. The crypto exchange stated that it will notify users when a Launchpool project becomes eligible for pre-market trading, including the specific start date for these trading sessions.
Vishal Sacheendran, Binance’s Head of Regional Markets, highlighted that this feature will offer greater utility for Launchpool subscribers while also extending the life cycle of token projects on the Binance platform.
While other exchanges like Bybit and Coinbase offer similar services, they primarily focus on derivatives or futures contracts. Binance’s approach to trading actual tokens sets it apart in the market.
Sacheendran explained that this innovation was driven by increasing user demand for pre-market spot trading opportunities. He claimed the service underscores Binance’s commitment to enhancing user experiences and maintaining its position at the forefront of crypto exchange innovation.
The Pre-Market service is currently available in several countries across Europe, the Middle East, Asia-Pacific, and the Americas, including France, Italy, Sweden, Poland, Bahrain, Australia, Indonesia, New Zealand, Mexico, El Salvador, Colombia, Brazil, and South Africa. Binance has noted that this list may evolve in response to changing regulations.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
