Farcaster Pre-Market Trading Now Live on BingX
BingX has officially launched pre-market trading for Farcaster ($FARCASTER), as announced on their X handle (formerly Twitter). This launch offers users the unique opportunity to trade FARCASTER tokens before they are listed on the spot market, potentially giving traders an early advantage.
What is Farcaster Pre-Market Trading on BingX?
The pre-market trading of Farcaster ($FARCASTER) is now available on BingX, providing traders with the ability to buy or sell the tokens ahead of the official listing. This early access allows investors to position themselves strategically before the token becomes widely available on the spot market.
The total supply of $FARCASTER tokens is projected to be 1,000,000,000, as per data released by the Farcaster project. However, BingX has emphasized that this figure is only a reference and that the actual total supply will be finalized by the Farcaster team. Once the final supply is confirmed, BingX will adjust the price and the amount of filled orders accordingly to ensure that the order value remains consistent with the original transaction.
Understanding Farcaster
Farcaster is a decentralized social media protocol built on blockchain technology, focusing on enhancing interoperability, user autonomy, and privacy. Unlike traditional social media platforms, Farcaster prioritizes giving users more control over their data and interactions, adhering to the core principles of decentralization. The protocol’s commitment to privacy and user empowerment has attracted significant attention, positioning it as a noteworthy project within the blockchain space.
The FARCASTER token plays a crucial role within the Farcaster ecosystem, and its pre-market trading on BingX represents a significant milestone. This initiative highlights the growing interest in Farcaster as it seeks to challenge conventional social media models by offering a new way for users to connect and share content while prioritizing user autonomy and privacy.
Important Information for Traders
As the pre-market trading of FARCASTER is now active, there are several important details that traders should consider. The trading fee is set at 2.00%, and the loan-to-value (LTV) ratio is established at 100.00%. Currently, the highest bid for FARCASTER stands at 4.2 USDT, with the lowest ask at 1 USDT, and the average price at approximately 1.19953 USDT.
It is essential to note that specific details such as delivery time, adjustment ratio, and adjustment time have not yet been determined. BingX has assured users that they will be informed once these details are finalized. In the event that FARCASTER is unable to be listed for spot trading due to unforeseen circumstances, BingX will release all pre-market trading orders and unlock the associated collateral.
Traders should also be aware that orders completed during the pre-market trading period cannot be revoked or rolled back. However, users do have the option to withdraw delivered tokens if they choose. This pre-market trading phase presents a valuable opportunity for traders to engage with the Farcaster project before its official debut on the spot market.
