Binance to Adjust Tick Size for Certain Spot Trading Pairs by July 22, 2024
Iris Coleman Jul 15, 2024 06:38
Binance announces adjustments to tick size for specific spot trading pairs, aiming to enhance liquidity and trading experience by July 22, 2024.
Binance, a leading cryptocurrency exchange, has announced upcoming adjustments to the tick size for several spot trading pairs. The changes, aimed at enhancing market liquidity and improving the overall trading experience, are set to take effect by July 22, 2024, at 05:00 UTC, according to Binance.
Purpose of the Adjustment
The tick size, which represents the minimum change in the unit price of a trading pair, will be adjusted to foster better liquidity in the market. Binance's initiative is expected to streamline trading activities and offer an enhanced experience for all users.
Impact on Trading
Binance has assured that the adjustment will not affect spot trading or any other related functions. API users should note that the tick size via API will also change. Users can retrieve the latest tick size using the GET /api/v3/exchangeInfo endpoint. The exchange has provided further details and updates on its API Changelog.
Existing Orders and Trading Strategies
It is important to highlight that the update will not impact existing spot orders. Orders placed before the adjustment will continue to be matched based on the original tick size. Traders are advised to adjust their strategies accordingly to avoid any unnecessary impact on their trading activities.
Additional Information
Binance has noted that there may be discrepancies in translated versions of this announcement and recommends referring to the original English version for the most accurate information. The detailed adjustments are summarized in a table provided by Binance, which can be accessed through their official announcement link.
As always, Binance reminds users of the inherent risks associated with digital asset trading. Traders are encouraged to thoroughly understand the risks involved and to consider their investment experience and financial situation carefully.
For more information, traders can refer to Binance's Terms of Use and Risk Warning.
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