February 23, 2024
Crypto

Binance Releases New Update Reducing the Minimum Order Size on Crypto’s Top Memecoins


Binance, the world’s largest crypto exchange platform by volume, is announcing an update that will reduce the minimum order size of some of the top memecoins by market cap.

In a new update, Binance says that it will be reducing the mandatory minimum order size of certain meme assets for spot and margin trading pairs, including Pepe (PEPE) and handful of dog-themed meme cryptos, such as Floki (FLOKI), Shiba Inu (SHIB), and red-hot Bonk (BONK).

Binance says the changes will take effect tomorrow and that the reduction of the order sizes will help make crypto trading more accessible globally.

“In order to make trading more accessible and improve trading experience, Binance will reduce the minimum order size of the following spot and margin trading pairs by [December 22nd]…

The adjustment will not affect spot trading, margin trading or other relevant functions [and] the updates to minimum order size will not affect existing spot or margin orders.”

According to the announcement, Binance will be lowering the minimum amount investors must spend from five stablecoins to one.

In other news for the world’s largest crypto exchange by trading volume, Binance settled in court with the Commodities Futures Trading Commission (CFTC) earlier this week after it and its founder, former CEO Changpeng Zhao, were found guilty of violating the law.

“The court finds Zhao and Binance violated the Commodity Exchange Act (CEA) and CFTC regulations, imposes a $150 million civil monetary penalty personally against Zhao, and requires Binance to disgorge $1.35 billion of ill-gotten transaction fees and pay a $1.35 billion penalty to the CFTC.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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