As of March 2nd, RedStone (RED) is trading at $0.8 on Binance’s pre-market platform, activating an upward circuit breaker mechanism due to a surge reaching 400% of its initial price of $0.2. This circuit breaker is designed to manage price fluctuations by capping the maximum trading price within a defined timeframe before a market opens. The pre-market price limit is set to be lifted after 18:00 UTC+8 on March 3rd. Previously, COINOTAG reported that Binance had instituted this mechanism to mitigate excessive volatility. Prior to market listing, users can hold a maximum of 5,000 RED tokens.
The circuit breaker is structured in phases: from February 28 at 18:00 UTC+8 to March 1 at 17:59 UTC+8, the price limit is capped at 200% of the opening value; followed by 300% until March 2 at 17:59 UTC+8; and reaching 400% until March 3 at 17:59 UTC+8. After this point, no restrictions will be applied, allowing the market to react freely. As this upward limit mechanism is currently experimental, its future applicability in other token listings remains to be confirmed.