Aevo, a derivatives exchange focused on options and perpetual futures, announced pre-market trading for its upcoming token. The token is scheduled to be launched on March 13.
The altcoin, which was offered for sale on its own platform before the market, is traded at $ 2.53 at the time of writing this article.
Aevo, which operates on its own Layer 2 network on Ethereum, has seen significant interest in recent months for pre-market trading of many tokens. This strategy was effective in increasing platform awareness.
The exchange published a message saying, “Introducing AEVO Pre-Launch. Take a position on where AEVO will be when the airdrop occurs by March 13.”
The move was met with skepticism by some. Parsec Finance founder Will Sheehan questioned the appropriateness of an exchange listing its own token in pre-market trading, calling the idea irrational.
Pre-market trading allows investors to predict the future price of a cryptocurrency after it is launched, allowing airdrop recipients to lock in prices.
Addressing internal controls, Aevo co-founder Julian Koh stated that the exchange prohibited its own employees from trading tokens in the pre-launch market. He also clarified that the exchange does not provide any information regarding the listing price to investors or insiders.
*This is not investment advice.