To improve trading efficiency and provide better user experiences, Binance plans to adjust the trading increments, or stepsizes, for certain digital assets in the near future. By making this change, Binance hopes to simplify transactions and enable quicker and more accurate pricing on various cryptocurrency exchanges.
Targeted Crypto Assets and Step Size Modification
The adjustment of step size will affect a variety of cryptocurrencies such as Fetch.ai (FET), Injective (INJ), Solana (SOL), and Celestia (TIA). Step size is an essential trading feature that determines the smallest changes in an order’s quantity. Binance intends to modify these increments to provide a more seamless and active market for these digital currencies, resulting in improved trading conditions.
Based on the announcement, the update for adjusting step sizes in trading pairs will occur in two stages. The initial stage is set for April 29, 2024, at 05:00 UTC. During this phase, the focus will be on FET and INJ trading pairs such as FET/BNB, FET/BTC, and INJ/USDT. In this first stage, the step sizes for these pairs will be modified to enhance order execution accuracy.
In the second stage, scheduled for the same day but at a different time, which is 07:00 UTC, we will concentrate on Solana (SOL) and Theta Fuel (TIA) trading pairs. For pairs including SOL/Binance Coin (BNB), SOL/Tether (USDT), TIA/Bitcoin (BTC), adjustments to the step size will be implemented. This will allow traders to place more accurate orders and could lead to an improvement in market liquidity.
The platform offered a table showing the modifications to the step sizes for each impacted trading pair. For instance, the FET/BNB pair’s step size will be adjusted from 1 to 0.1, enabling finer order placements. Similarly, the INJ/BTC pair’s step size is being lowered from 0.1 to 0.01. Furthermore, the SOL pairs including currencies like BNB, BTC, and EUR, among others, will switch from a step size of 0.01 to 0.001.
Effect of the Update on Spot Trading on Binance
Traders have been reassured by the exchange that the upcoming changes will not interrupt their current spot trades or related features. Orders for spot trading that were placed prior to the adjustment in step size will still be matched using the original step size, maintaining a seamless trading experience for active traders on the platform.
The exchange requests traders to reconsider their trading plans in light of the upcoming changes, assuring them of its efforts to keep disruptions to a minimum during the adjustment phase.
Developers and traders utilizing Binance’s APIs can look forward to updated step size details. Now, they have easy access to the most current step size information via the given link.
Binance’s ongoing commitment to enhancing the trading experience is demonstrated through its adjustments to step-sizes. This new feature empowers traders with increased control over their orders, allowing for more precise executions and ultimately, better opportunities in markets like FET, INJ, SOL, and TIA.
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2024-04-22 14:08