Binance, Exchanges

What Is a Pump on Binance?

Binance is a digital asset exchange that facilitates trading of cryptocurrencies. The pump on Binance refers to a coordinated group buying effort that is intended to drive up the price of a cryptocurrency. These groUPS will often use social media and chat rooms to communicate their intent to buy a particular coin at a specific time. The goal is to buy the coin at a low price and then sell it at a higher price, thus earning a profit.

While pumps can be conducted legitimately, there is also the potential for manipulation. For example, a group may artificially inflate the price of a coin by buying it in large quantities or by spreading false information about the coin.

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