Binance Announces Tick Size Adjustments for Major Trading Pairs; Details

Binance, the largest cryptocurrency exchange by trade volume, has announced a major adjustment to the tick size of some important trading pairs. This comes on the heels of a global crypto market rally that started over the weekend. Consequently, the majority of the coins in the market have begun the new week witnessing a significant price uptick.

To continue to provide the best services, Binance has notified its users that it will revise the tick size for certain spot trading pairs. Some of the notable tokens affected by this update include Arweave (AR), Arkham (ARKM), FLOKI, Fantom (FTM), Immutable (IMX), Chainlink (LINK), Polygon (MATIC), Near Protocol (NEAR), Tron (TRX), Dogwifhat (WIF), and LayerZero (ZRO). See details below.

Binance to Update Tick Size for 31 Spot Trading Pairs

The exchange giant made this known on its official website in a release dated July 15. According to the announcement, the newly adjusted tick size will come into effect on July 22 at 05:00 (UTC). For context, a tick size is the minimum price change between several bids and offer prices of a token tradeable on a crypto exchange platform.

Binance disclosed that it has carried out these changes to increase market liquidity and also to offer its users the best trading experience. Per the announcement, Binance has updated the tick size as follows:

• AR/TRY, CYBER/TRY, NEAR/TRY, ZRO/TRY tick size has been 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 have been adjusted to 0.01
• ARKM/USDC, IMX/USDT, ORN/USDT, PHB/USDT, RAY/USDT, WIF/EUR, WIF/FDUSD, WIF/USDC, and WIF/USDT revised to 0.001
• FLOKI/TRY revised changed to 0.000001, MATIC/BNB adjusted to 0.0000001, PERP/USDT revised to 0.0001, TRB/BTC now 0.000001, and TRX/EUR and TRX/USDT changed to 0.0001

Despite the numerous regulatory challenges the exchange is facing worldwide, it still strives to remain at the top, regularly updating its services to give its users the best trading experience. Importantly, Binance stressed that the new tick size will not affect spot trading and other functions that are related to the aforementioned tokens.

Additionally, the Tick size via API will change at the given time. Also, existing spot orders will not be affected by the updated tick size. Moreover, following the set date, all previous orders placed before the adjustment will be automatically matched with the original tick size.

Binance advised users to take proactive measures to adjust their trading strategies to ensure smooth trading and avoid unnecessary impact on their trading journey.

Price Movement for Some of the Major Coins

Meanwhile, amid the ongoing market rally, the affected coins have demonstrated a modest price uptick in the last 24 hours. FLOKI has grown by 6.06% over the last day and is now trading at $0.0001573. Similarly, ARKM has jumped by 4% to $1.47.

LINK has spiked by 5.62%, changing hands at $13.85. MATIC is up by 2.02% to $0.5416. TRX has only seen a marginal increase of 0.25% to $0.1384. However, the trending meme coin WIF has recorded the most gains among the major cryptocurrencies. According to data from CoinMarketCap, WIF has surged over 8% in the last 24 hours, now trading at the $1.85 mark. As positive sentiments begin to loom across the crypto market, participants are closely watching the prices of these tokens to see how they react in the future.