Binance, the largest cryptocurrency exchange in terms of daily trading volume, made important announcements for 13 altcoins. In this article, we will convey the announcements. Here are the details…
Binance adds new coins to its “flexible products” basket
Binance adds new coins to its Simple Earn Flexible Products service for idle cryptocurrencies. Exchange; added CLV, FLUX, WOO, OCEAN, OXT, OM, NULS, and ATM to the list of supported assets. cryptocoin.com As we have also reported, “Simple Earn” was created by the combination of Binance Staking and Savings. Announced on September 22, this service includes flexible products as well as locked products.
Tick size will change in some cryptocurrencies
The exchange announced that it will regulate the “tick” size for some cryptocurrency projects. On October 25, 2022, some USD-M and COIN-M perpetual futures contracts will change in size. In other words, there will be a minimum change in the unit price. The regulation will not affect the trading of USDS-M and COIN-M Futures. Tick size will also change via API.
API users can use GET /fapi/v1/exchangeInfo and GET /dapi/v1/exchangeInfo for the latest tick size of USDS-M and COIN-M futures contracts respectively. Tick size update will not affect existing orders. After the tick size is updated, the orders placed before the update will be matched with the original tick size. Changes will occur as shown in the table below:
Exchange supports Avalanche (AVAX) update
On the other hand, the exchange announced that it will support Avalanche (AVAX) network upgrade. The Avalanche network upgrade will take place on October 18, 2022, at approximately 19 CET. Withdrawals and deposits on the exchange will be suspended as of October 18, 18 CEST. According to the exchange’s statement, AVAX trading will not be affected during the network upgrade. In addition, the exchange says that it will meet all relevant technical requirements for all users who have AVAX in their account.
The exchange will reopen deposits and withdrawals for AVAX once it considers the current network stable. Avalanche functions as a platform for decentralized applications and private Blockchain networks. The first layer (layer-1) is a Blockchain. It aims to displace Ethereum, the most popular network for smart contracts – one of Ethereum’s competitors. The network’s mainnet hit the market in 2020. Then the project focused on decentralized finance (DeFi) and decentralized applications (dApp). Meanwhile, cryptocurrency AVAX is changing hands at $16.23, up 5.17 percent at the time of writing. The coin ranks eighteenth with a market cap of $4.8 billion.
