cryptopotato.com
- Binance plans to adjust the tick size for 25 spot trading pairs by October 10, 2023, without affecting existing orders.
- The exchange will delist 19 trading pairs on October 6, all involving BUSD.
- Binance’s move follows its earlier announcement to discontinue support for the stablecoin, BUSD, next year.
Binance’s Amendments
The world’s largest cryptocurrency exchange – Binance – announced that it will complete adjustments for the tick size (the minimum change in the unit price) of various spot trading pairs by October 10, 2023. The update will not affect existing spot orders and other relevant functions.
Some of the trading pairs that will be the subject of adjustment include APE/BNB, APE/ETH, APR/TRY, CAKE/BNB, CAKE/BTC, COTI/BUSD, COTI/USDT, WAVES/BTC, WAVES/TRY, and many more. All together, the trading pairs Binance will touch upon are 25, and the updated tick size can be observed here.
“Please adjust your trading strategies accordingly to avoid unnecessary impact on your trading. We apologize for any inconvenience,” the company advised.
The Recent Delisting Process
Besides the aforementioned changes, Binance also informed that it will remove 19 trading pairs on October 6. Namely, those are 1INCH/BUSD, AERGO/BUSD, ANKR/BUSD, DATA/BUSD, DIA/BUSD, ERN/BUSD, IOST/BUSD, KP3R/BUSD, LOKA/BUSD, LRC/BUSD, LTO/BUSD, MDX/BUSD, OM/BUSD, POLYX/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD, THETA/BUSD, and YFI/BUSD.
The firm did not provide the exact reason for the upcoming delisting but asserted that it constantly observes the market to “protect users:”
“Binance conducts periodic reviews of all listed spot trading pairs and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.”
It is worth mentioning that all the trading pairs involve BUSD. Binance previously disclosed that it will discontinue support for the stablecoin at the beginning of next year.