Markets
Binance Makes Major Changes to Major Spot Pairs Amid Crypto Market Recovery
The world’s largest cryptocurrency exchange Binance announced on Monday that it will make adjustments to the tick size of certain spot trading pairs. The main spot trading pairs under the plan are Arweave (AR), Arkham (ARKM), FLOKI, Fantom (FTM), Immutable (IMX), Chainlink (LINK), Polygon (MATIC), Near Protocol (NEAR), Tron (TRX), dogwifhat (WIF) and LayerZero (ZRO).
Binance Plans Tick Size Adjustments for FLOKI, MATIC, WIF, ZRO
Binance Cryptocurrency Exchange making major changes to the tick size for many spot trading pairs by July 22, according to an official announcement on July 15. The tick size is known as the minimum change in the unit price of a cryptocurrency.
The move comes amid a broader recovery in the cryptocurrency market. The cryptocurrency exchange plans to increase market liquidity and improve the trading experience for its users. For details on the tick sizes of all spot trading pairs on Binance, users can refer to the Trading rules.
The details of the adjustments based on the updated tick size are as follows:
- AR/TRY, CYBER/TRY, NEAR/TRY, ZRO/TRY changed to 0.1
- AR/FDUSD, AR/USDC, AR/USDT, FTM/TRY, IMX/TRY, LINK/EUR, LINK/FDUSD, LINK/USDC, LINK/USDT, LISTA/TRY and MATIC/TRY revised to 0.01
- ARKM/USDC, IMX/USDT, ORN/USDT, PHB/USDT, RAY/USDT, WIF/EUR, WIF/FDUSD, WIF/USDC, WIF/USDT changed to 0.001
- FLOKI/TRY revised from 0.0000001 to 0.000001, MATIC/BNB from 0.000001 to 0.0000001, PERP/USDT from 0.001 to 0.0001, TRB/BTC to 0.000001, TRX/EUR and TRX/USDT 0.0001
The tick size will not impact current spot orders, but the tick size via API will also change. Binance advises users to adjust their trading strategies to avoid unwarranted impacts on trading.
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Price Action Amid Crypto Market Recovery
The above mentioned cryptocurrency pairs are trading in the green today after the cryptocurrency market recovery. Among these cryptocurrencies, Immutable (IMX) and LayerZero saw a major price surge, with the price rising by 9% and 6% in the last 24 hours.
FLOKI Price has surged 3% in the last 24 hours, with the price currently trading at $0.0001533. Meanwhile, the WIF price jumped 5% to $1.78, facing resistance at the $1.8 level.
LINK price rose 4% to $13.72, while MATIC and TRX booked profits after last week’s rally. Traders expect the market recovery to extend as sentiment improves following the end of the German government’s sell-off and the Fed’s expected rate cuts in September.
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