RedStone Surges 400% on Binance Pre-Market, Circuit Breaker Activated

RedStone (RED) is currently trading at $0.8 on the Binance pre-market, having reached 400% of its initial opening price of $0.2. This surge in price has triggered an upward circuit breaker mechanism, which will be lifted after 18:00 on March 3rd (UTC+8).

Binance's pre-market has introduced an upward circuit breaker mechanism to control price volatility during the initial trading hours of a new asset. This mechanism sets price limits based on the opening price for the first 72 hours before the market opens. After this period, there will be no more price restrictions, and trading will return to normal.

In the case of RED, the maximum holding limit per user before listing is 5,000 RED. The rules for the upward circuit breaker are as follows:

• From 2025-02-28 18:00 (UTC+8) to 2025-03-01 17:59 (UTC+8), the highest allowable price limit was 200% of the initial opening price;
• From 2025-03-01 18:00 (UTC+8) to 2025-03-02 17:59 (UTC+8), the highest allowable price limit was 300% of the initial opening price;
• From 2025-03-02 18:00 (UTC+8) to 2025-03-03 17:59 (UTC+8), the highest allowable price limit is 400% of the initial opening price;
• After 2025-03-03 18:00 (UTC+8), there will be no price limit in the pre-trading market.

It is worth noting that this upward limit mechanism is currently being tested during the issuance of the RED token and may not become a permanent feature of future pre-market trading.