Binance Making Major Changes To Key Spot Pairs Amid Crypto Market Recovery

The world’s largest crypto exchange Binance on Monday announces making adjustments for the tick size of certain spot trading pairs. The major 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 To FLOKI, MATIC, WIF, ZRO

Crypto exchange Binance making major changes to 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 crypto.

The move comes amid a broader crypto market recovery. The crypto exchange plans to increase market liquidity and improve trading experience for its users. For details about tick sizes of all spot trading pairs on Binance, users can refer to the Trading Rules.

Details of adjustments based on 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 tick size via API will also change. Binance warns users about adjusting their trading strategies to avoid unwarranted impact on trading.

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Price Action Amid Crypto Market Recovery

The above-mentioned crypto trading pairs are trading in green today after the crypto market recovery. Among these crypto, Immutable (IMX) and LayerZero saw massive upside price action, with price soaring 9% and 6% in the last 24 hours.

FLOKI price soared 3% in the past 24 hours, with price currently trading at $0.0001533. Meanwhile, WIF price jumped 5% to $1.78, facing resistance at the $1.8 level.

LINK price climbed 4% to $13.72, while MATIC and TRX saw profit booking after the rally last week. Traders expect market recovery to extend as sentiment improves after the end of the German government selloff and anticipated Fed rate cuts in September.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.