$RED New update
The end of the pre-market phase has not been announced, but the release date of the 240M blocked RED will be on 03/05. This information is available in the APP itself. In other words, the pre-market should end on 03/05 or earlier.
Currently, we have the following situation:
1) The price is limited to $0.80 and many orders have not been filled.
2) There are 40M tokens released.
3) Only a few trades have been made, with a maximum volume of 0.2M, meaning only 0.5% of the released tokens. This indicates that sellers are unwilling to sell at the current price.
4) In turn, the demand for tokens is decreasing by half for every $0.20 step in price. See, when the price was at $0.40, the demand for purchase was 40M RED. When it rose to $0.60, the demand dropped to 20M RED. When it rose to $0.80, the demand fell to around 13M RED.
5) If this logic holds, at $1.00, the demand will be 5M RED, at $1.20 2.5M RED and so on. The demand will be insignificant, around 0.2M, when the price reaches about $2.20. However, I believe that at $1.40 the demand will already be too small, around 1.25M RED. The price may not even rise beyond $1.50.
6) From there, the price starts to fall, and smaller orders get filled.
7) At the official market opening, which should occur on 03/05 or earlier, an additional 240M tokens will be released by Binance. There will certainly be a significant downward impact on the price.
8) All of this could change if the hype around the coin attracts new investors at launch, but it seems clear that the more realistic demand is around 40M tokens.
In short, we will only know the outcome in the coming days. But everything indicates that the dream of exorbitant profits will come crashing down. I hope many succeed, although I myself am no longer so optimistic. It will be very difficult to enter and exit at the right time already in the pre-market phase. Just imagine when the market opens and they dump an additional 240M tokens.
Greetings from @cryptocoinplace.
