Binance Can Reduce Minimum Trade Size for Some Meme Coins

Binance is one of the world’s largest cryptocurrency exchanges in terms of volume. It has recently announced that it will reduce the minimum order size for some of the top memecoins in terms of market cap.

Binance is a centralized cryptocurrency exchange established in 2017 with a registered office in the Cayman Islands. There are 365 coins and 1148 trading pairs available on the exchange to trade. 

On December 20, 2023, Binance announced that it would reduce the minimum order size of the following spot and margin trading pairs. This change will be implemented on December 22, 2023, at 07:00 UTC.

What will Change?

Meme coins, or assets, are a type of cryptocurrency that is highly speculative, and certain enthusiastic online crypto communities support these coins.

The meme coins that are expected to undergo the change of required minimum order size on the Binance platform include PEPE (Pepe), a few dog-themed meme cryptos such as SHIB (Shiba Inu), FLOKI (Floki), and BONK (red-hot Bonk).

This initiative aims to facilitate trading with reduced barriers. The changes will apply to spot and margin trading pairs. For example, the minimum order size for SHIB/USDT will be reduced to 1 USDT from 5 USDT. 

This change will affect the existing spot and margin orders or other relevant functions, as well as updates to the minimum order size. It will allow users with lower funds to make investments in the coins.

This change will make trading more accessible and improve the trading experience. Application Programming Interface (API) users may get details about the new orders from the exchange information.

The details of the adjustments are as follows:

The above list mentions all the pairs that will reduce the minimum order size, as mentioned. It will attract more small investors and an all-new investor base. The lower trade size will allow investors to diversify among various crypto assets.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.