Binance Introduces Pre-Market Spot Trading for Crypto Investors

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 the
exchange’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.