Binance announced plans to reduce the minimum order size for various spot and margin trading pairs, including SHIB/USDT, SHIB/EUR, BONK/USDT, with the changes taking effect on December 22.
The minimum order size for pairs like SHIB/USDT will be lowered from 5 USDT to 1 USDT, and the update will not impact existing spot or margin orders.
Following the announcement, the Solana-based memecoin BONK recorded a 6% surge in 24 hours, briefly reaching a market cap of over $1.2 billion.
The world’s largest cryptocurrency exchange by trading volume, Binance, has announced an important update on its platform that affects memecoin traders.
Specifically, Binance has plans to reduce the minimum order size for numerous spot and margin trading pairs, such as SHIB/USDT, SHIB/EUR, BONK/USDT, BONK/FDUSD, PEPE/USDT, FLOKI/USDT, and others.
The updated minimum order size in the case of SHIB/USDT, for example, will be 1 USDT instead of the previously required 5 USDT.
The changes are scheduled to come into effect on December 22, with Binance explaining that the update will not affect existing spot or margin orders.
While SHIB and PEPE have not recorded any substantial price swings shortly after the announcement, this is not the case with BONK.
The Solana memecoin has surged 6% in the past 24 hours, while its market capitalization briefly surpassed the $1.2 billion mark.
BONK has exploded almost 350% in the last 30 days, with its valuation possibly soaring due to Binance and Coinbase adding the asset to their platforms.
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