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$RED RED has increased its maximum price limit to $0.6 and many people are still wondering how they can buy $RED. Here is a guide.
Restrictions
First of all, you need to understand that there is a restriction on buying the token and no one can purchase the token at this time. To learn more about the restrictions,
How to buy
Binance has stated that it will lift the restrictions on March 3, 2025, at 10:00 (UTC). Once the restrictions are lifted, you will be able to buy the token like any other normal token.
Limit orders
Many people have asked whether:
Limit orders of $0.4 or $0.6 will be executed once trading opens.
They can place orders only at these prices of $0.4 or $0.6.
Binance increases the price limit to $0.6 or $0.8 if their orders will be executed.
I will try my best to explain how you can place orders, at what price, and how they will be executed.
Setting limit orders
The price of red has been increased to $0.6 and will be raised to $0.8 tomorrow. What this means in terms of placing orders is that you can place a buy limit order at any price below $0.8 before March 3 when trading opens.
This means you can place an order at 0.8, 0.2, 0.456, or any other price between 0.8 and 0.2. There are no restrictions on the limit price you can set below $0.8.
Limit order price
This has been a point of confusion, the fact that the price is set at a maximum of $0.4, $0.6, or $0.8 does not mean you have to place an order at these prices, you can choose the price you want as long as it is below $0.8.
Order execution
Orders can only be executed starting from March 3. If you have an open order, there is no reason to place another order once trading opens.
Your order will be executed once the market opens and the market price reaches your limit order price, then your order will be executed, but please note that this cannot happen before March 3.
Thank you for reading. 🦾😁