Why People $RED Buy Orders that Don't Get Filled
Price Cap Mechanism for RedStone ($RED) Binance Pre-Market
To continue innovating and enhancing the trading experience for our users, Binance is introducing enhanced features for Binance Pre-Market - the Price Cap Mechanism.
- What is the Price Cap Mechanism?
The Price Cap Mechanism limits the maximum trading price to a certain percentage of the initial opening price for the first 72 hours of trading in the Pre-Market. After this period, there will be no price restrictions, and trading will resume as normal.
- Why is this Important?
This mechanism prevents excessive volatility and ensures a fair trading environment, especially for newly listed tokens in the Binance Pre-Market.
- Trial Implementation for $RED
Please note that this Price Cap Mechanism is currently being trialed for the RedStone ($RED) token launch. It is yet to be determined whether this feature will be applied to future Pre-Market listings.
- Why Your Limit Orders May Not Get Filled?
Many users have been wondering why their limit orders at $0.4, $0.6, or $0.8 were not filled. This is due to the Price Cap Mechanism, which restricts price movement within the cap for the given period. Sell orders are filled based on the time when buyers place their buy orders. If there are no buyers at the set price within the cap, your order will remain unfilled until the market moves accordingly.
This is a normal part of the mechanism, ensuring stability and fairness in trading.
Stay informed and trade wisely!