Binance to Reduce Minimum Order Size for Memecoin Trading Pairs
Binance, the world’s largest cryptocurrency exchange, has announced plans to lower the minimum order size for several spot and margin trading pairs, including SHIB/USDT, SHIB/EUR, BONK/USDT, and others. These changes will take effect on December 22. For example, the minimum order size for SHIB/USDT will be reduced from 5 USDT to 1 USDT. It’s important to note that existing spot or margin orders will not be impacted by this update.
BONK Records Surge After Binance Announcement
Following Binance’s announcement, the memecoin BONK experienced a 6% surge in just 24 hours. This surge briefly pushed its market cap above $1.2 billion. BONK has seen significant growth in the past month, with a nearly 350% increase in value. This growth may be attributed to Binance and Coinbase adding BONK to their platforms.
Hot Take: Binance Boosts Memecoin Trading with Minimum Order Size Reduction
Binance’s decision to lower the minimum order size for memecoin trading pairs is likely to attract more traders and investors to these assets. By reducing the barrier to entry, Binance aims to make memecoins more accessible and appealing. The surge in BONK’s price following the announcement demonstrates the impact of such updates on market sentiment and investor interest. As memecoins continue to gain popularity in the crypto space, exchanges like Binance play a crucial role in facilitating their trading and providing opportunities for profit. The lowered minimum order size is a positive step towards fostering growth and engagement within the memecoin community.
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