DUBAI, UAE, March 12, 2024 /PRNewswire/ -- Bybit, one of the world's top three crypto exchanges by volume, has introduced an innovative feature to its platform: Pre-Market Trading, which is already live for the much anticipated Wormhole ($W) airdrop. This feature provides users with early access to new tokens before they officially debut on the market.
Designed as an over-the-counter (OTC) platform, it enables buyers and sellers to set quotes and execute trades at predetermined prices, offering a unique advantage for early movers. This allows both buyers and sellers to control their entry price for new tokens.
The first projects included on Bybit's Pre-Market Trading platform are Wormhole ($W), and Aevo ($AEVO). Wormhole is a cross-chain messaging platform that acts as a way to move money across blockchains, it will airdrop 617 million tokens, or 6% of the token's total supply, to past users. The $W token is currently trading for $1.7 on Bybit's Pre-Market Trading platform.
Aevo is a high-performance decentralized derivatives exchange platform, focused on options and perpetual contracts. It will airdrop 5% of its token supply on March 13. AEVO is currently trading at just under $3 on Bybit's Pre-Market Trading platform.
Participants interested in participating in Pre-Market Trading must ensure they have sufficient funds and can complete transactions within the allocated timeframe. If one of the parties fails to meet trading obligations on time, their pledged collateral is forfeited. This mechanism underscores the fairness and transparency of Bybit's process.
"Pre-Market Trading opens new avenues for our clients to engage with emerging tokens, setting a new standard for proactive trading in the cryptocurrency sector," said Ben Zhou, co-founder and CEO of Bybit. "This move reshapes market dynamics by allowing more strategic trading positions ahead of official listings, reflecting Bybit's commitment to innovation and client empowerment in the digital asset trading landscape."
Bybit / TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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