- According to a recent announcement, Binance will be reducing the minimum order size for specific memecoins.
- Along with the new development, the minimum amount investors can spend will also be lowered from five to one stablecoins.
As adoption for memecoins increases, the Binance cryptocurrency exchange is doing all it takes to keep up with public demand. As shared in its most recent announcement, the minimum order size for memecoins will be reduced.
The Binance cryptocurrency exchange is committed to staying ahead of the curve and this time is no different. As demand for memecoins in the Binance cryptocurrency grows, the exchange is taking the necessary steps to cater to all its customers.
As a result, Binance users have been informed about the latest update, which is targeted towards altcoin traders, particularly memecoin traders and holders.
Once the new development takes deflect, the mandatory minimum order size for certain altcoins will drop. A total of 5 memecoins will be affected by this change.
As the announcement read;
“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 2023-12-22 07:00 (UTC).”
It is worth noting that the new development will not impact spot traders, who typically buy and sell crypto assets for immediate delivery. Similarly, marginal traders who use capital loaned to them by brokers, to purchase crypto, will not be affected by the change. All existing spot and margin orders will also not be affected by the change.
Amidst ongoing market chaos, Binance strengths relationship with Thailand regulators
On the other hand, the memecoins that will see their existing minimum size order reduced include Shiba Inu (SHIB), Pepe (PEPE), Floki (FLOKI), and Bonk (BONK).
Conclusively, investors will also see a reduction in the minimum amount that investors can spend from five to one stablecoin.
Meanwhile, Binance’s position in the cryptocurrency market is still a major topic of discussion amongst market participants. Following the exit of its former CEO Changpeng Zhao, and a recent debacle with regulators, investors were noticeably moving their funds to Coinbase, a long-standing rival exchange.
Whether or not Binance will maintain its place as a leading global cryptocurrency exchange is unknown. However, in the meantime, the exchange is attempting to strengthen its eruption beyond the borders of the United States.
The team at Binance reported its presence in Thailand as it collaborated with authorities to contain security breaches recorded in the country.
“As part of our ongoing commitment to collaborate with law enforcement and regulators, the Binance LE team travelled to Thailand to host training sessions for the CIB and CCIB. It was a great opportunity to support the Thai authorities in their efforts to combat cybercrime.” Binance wrote in a post shared with X, formerly known as Twitter.
