Binance to pilot "limit up" mechanism! Arkham can only rise up to ten times within the first five minutes of trading

Binance has set up a limit price mechanism similar to the "limit up" board in the Taiwan Stock Exchange for newly listed tokens, citing customer protection. It stipulates a price ceiling for a certain period of time after opening. However, this mechanism is still in testing and will not be applied to all cryptocurrencies.

Binance Launchpad Introduces New Price Limit Mechanism for Tokens

According to the latest announcement from Binance, the Binance Launchpad has opened the investment channel for Arkham ARKM today for a 24-hour period.

After the investment period ends, Binance Innovation Zone will list ARKM tomorrow at 8:00 PM, and trading pairs such as ARKM/BTC, ARKM/USDT, ARKM/TUSD, ARKM/BNB, and ARKM/TRY will be available.

In this Launchpad event, Binance has introduced a protection mechanism to prevent user losses due to excessive volatility at the opening. A price limit mechanism will be implemented for the first five minutes after trading begins.

During this period, the price increase limit is set at ten times the public offering price. For example, for ARKM, the price increase limit will be set at ten times $0.05, which is $0.5. The price limit mechanism will be lifted after five minutes, and trading will continue normally based on market conditions.

However, Binance officials have stated that this price limit mechanism is a trial measure and is being used for the first time in this instance. It does not necessarily mean that it will be implemented for all Launchpad projects in the future.