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Binance has announced efforts to enhance liquidity and trading for Shiba Inu (SHIB), USTC, and SingularityNET (AGIX), including tick size adjustments aimed at improving market dynamics and trading experience.
Binance's Strategic Move to Adjust Tick Sizes Aims to Boost Trading and Liquidity for SHIB, USTC, and AGIX
This strategic decision could potentially lead to increased trading activity, improved price discovery, and enhanced market depth for these cryptocurrencies; will values rally?
In a recent report by CoinGape, Binance, the world's largest cryptocurrency exchange, has taken a significant step by expanding its support for major cryptocurrencies such as SingularityNET (AGIX), Shiba Inu (SHIB), TerraClassicUSD (USTC), and others. This move, which includes a planned alteration of the tick size of trending spot trading pairs by next week, is designed to boost market liquidity and enhance the trading experience, potentially leading to a more favorable market environment for traders and investors.
Binance has made a significant announcement, revealing a carefully planned tick size adjustment for several listed cryptocurrencies via API, set to take effect from May 23 at 05:00 UTC. This adjustment, aimed at enhancing market liquidity and trading experience, is a testament to Binance's commitment to providing a robust and user-friendly trading platform for traders and investors.
"The tick size update will not affect existing spot orders. After the tick size is updated, orders placed before the update will still be matched with the original tick size," as per the announcement.
The tick size adjustment has led to a decrease in tick size for some cryptocurrencies, including AGIX/FDUSD, AGIX/TRY, AGIX/USDT, ALT/BNB, ALT/FDUSD, ALT/TRY, ALT/USDC, ALT/USDT, ARKM/BNB, ARKM/FDUSD, ARKM/TRY, ARKM/TUSD, ARKM/USDT, EDU/USDT, FET/FDUSD, FET/TRY, FET/USDC, and FET/USDT. This change could potentially impact the trading dynamics of these cryptocurrencies, providing traders and investors with new opportunities and challenges to consider.
Whereas the tick size is increased for ID/TRY, ID/USDT, REN/USDT, SHIB/TRY, STX/FDUSD, STX/TRY, STX/USDC, STX/USDT, TRX/TRY, TRX/XRP, USTC/FDUSD, USTC/TRY, USTC/USDT, VANRY/USDT, XAI/BNB, and XAI/TRY.
Tick Size Adjustment Spurs Mixed Market Reactions: SHIB, USTC, and AGIX See Price Gains but Varied Trading Volumes
SHIB, one of the cryptocurrencies affected by the tick size adjustment, has seen a 2% increase in price over the last 24 hours and a 12% increase over the last week. However, the trade volume has experienced a significant drop of 50% in the past 24 hours, indicating a potential shift in market activity.
The USTC price has increased by more than 4% in the previous 24 hours and is currently trading at $0.02244. The current 24-hour low and high are $0.02157 and $0.02283.
Meanwhile, AGIX's price has risen by 7% in the last 24 hours. The current price is $0.980, with a 24-hour low of $0.912 and a high of $0.989.
Photo: Microsoft Bing
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