BingX Unveils Pre-Market Trading For New Telegram Ecosystem Tokens

Published: August 22, 2024 at 9:02 am Updated: August 22, 2024 at 9:02 am

Edited and fact-checked:
August 22, 2024 at 9:02 am

In Brief

Crypto exchange BingX unveiled Pre-Market Trading, offering early access to tokens and enabling more efficient price discovery.

Cryptocurrency exchange BingX unveiled its new BingX Pre-Market Trading feature, now offering BingX users early access to cryptocurrencies and enabling more efficient price discovery and improved market liquidity.

“This new feature represents a major milestone for BingX, providing our users with early access to new coins and the ability to secure advantageous positions before these coins are listed on the spot market,” said Vivien Lin, Chief Product Officer of BingX, in a written statement. “We are dedicated to continually innovating and delivering tools that empower our users to stay ahead in the dynamic cryptocurrency market,” she added.

Pre-Market Trading is set to generate interest among the traders, establishing the exchange as a major platform for early access to new assets prior to their official market launch. This feature is created to offer individuals options to invest in newly introduced cryptocurrencies before their public listing.

Furthermore, the new offering allows BingX users to explore investments beyond well-known assets like Bitcoin and Ethereum. Initial listings encompass Hamster Kombat (HMSTR) and Catizen (CATI), which are part of a growing ecosystem linked to Telegram coins, integrated with the widely used messaging platform Telegram.

BingX’s Pre-Market Trading Launches With Enhanced OTC Capabilities

This company operates as an over-the-counter (OTC) platform, facilitating direct peer-to-peer transactions for newly listed tokens. Users can acquire these assets at competitive rates, secure liquidity in advance, and complete transactions at mutually agreed times. This feature allows both buyers and sellers to set their own prices and quantities, offering a flexible and user-focused trading environment.

In order to ensure transaction security, BingX holds the required funds for both parties during the trade, providing financial protection for each order and reducing the risk of trade failures. Sellers benefit from the ability to complete deliveries as soon as they receive the funds, allowing them to lock in profits without waiting for the transaction period to conclude.

BingX serves over 10 million users globally and offers a wide range of products and services, including spot trading, derivatives, copy trading, and asset management, among others.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Alisa Davidson