Cryptocurrency Q&A
What happens when a new coin is listed on Binance?
What happens when a new coin is listed on Binance?
SamuraiWarrior
Sat Sep 21 2024
|
7 answers
1591
I'm curious, could you explain in detail what exactly takes place when a new coin or token is listed on the popular cryptocurrency exchange Binance? What kind of processes and checks does Binance undergo to ensure the legitimacy and quality of the coin? Does the listing process affect the coin's price and trading volume? How does Binance choose which coins to list, and what criteria do they use to make those decisions? Additionally, how does the listing of a new coin on Binance potentially impact the overall cryptocurrency market?
7 answers
StormGalaxy
Mon Sep 23 2024
The debut of a new cryptocurrency on esteemed platforms such as Binance is a pivotal moment. These exchanges meticulously prepare by unveiling three pivotal price points that set the tone for the coin's market performance.
Was this helpful?
241
82
CryptoTitanGuard
Mon Sep 23 2024
The opening price is the initial value assigned to the new coin upon its listing. It serves as a benchmark, offering investors a clear starting point for evaluating the coin's potential.
Was this helpful?
313
76
lucas_clark_artist
Mon Sep 23 2024
The highest price of the day represents the peak value the coin achieves during its initial trading sessions. This figure highlights the coin's strength and the level of enthusiasm among traders.
Was this helpful?
115
78
CryptoLodestarGuard
Sun Sep 22 2024
Conversely, the lowest price of the day indicates the coin's weakest point during its debut. It reveals the extent of market volatility and potential resistance faced by the new asset.
Was this helpful?
234
59
TaegeukWarrior
Sun Sep 22 2024
To illustrate, let's consider the example of $STRK. Upon its debut, $STRK's low price was set at $0.2, reflecting a conservative starting point for investors.
Was this helpful?
86
99
Load 5 more related questions
