Let’s clear up a common misconception about new coin launches.
When you see a coin like $VANA showing a 2400% increase, many assume it means someone bought it at $1 and others bought it at $25.70. That’s not how it works.
Here’s the truth: When Binance lists a new coin, they are required to set three prices before trading begins:
1. Opening Price
2. High of the Day
3. Low of the Day
For example, in the case of $VANA, the low was $1, the high was $25.70, and the opening price was around $21.79.
Key Points:
The low price is usually based on the ICO price or launch price.
The high price can be random or sourced from CoinMarketCap if the coin was already trading elsewhere.
In some cases, both the high and low are set arbitrarily based on the market cap at launch.
The percentage increase you see reflects the difference between the ICO/launch price and the current market price—essentially the returns made by early ICO or seed investors.
Since these prices are pre-set by Binance before trading starts, no one actually buys the coin at the lowest price (e.g., $1
#BTCNextMove #USUALBullRun #GrayscaleSUITrust #MarketPullback #MarketCorrectionBuyOrHODL? $VANA
