Understanding the meaning of tick Size and it's importance to a trader!
To this note, @Binance will update the Tick size of the following spot trading pairs:
MEANING ;
Tick size is the minimum price change between different bid and offer prices of an asset traded on an exchange platform. It is the minimum price difference that must exist at all times between consecutive bid and offer prices.
📍 Importance of Tick Size To a Trader
The main purpose of setting a tick size is to maintain orderliness and efficiency in trading activities. By establishing a standardized minimum price increment, exchanges ensure fair and transparent pricing for all participants. Traders closely monitor tick size as it directly impacts their potential profits or losses.
📍 So, In order to increase market liquidity and improve trading experience, Binance will complete adjustments for the tick size (i.e., the minimum change in the unit price) of certain spot trading pairs by 2024-04-22 05:00 (UTC) and 2024-04-22 07:00 (UTC).
📍 The adjustment will not affect spot trading and other relevant functions.
📍 Tick size via API will also change. API users may use GET /api/v3/exchangeInfo for the latest tick size. For further details and updates, please refer to API Changelog.
📍 The tick size update will not affect existing spot orders. After the tick size is updated, orders placed before the update will still be matched with the original tick size.
📍 Please adjust your trading strategies accordingly to avoid unnecessary impact on your trading.
Some of the pairs:
ACE/BNB, ACE/BTC, ACE/FDUSD, ACE/USDT, AEVO/BNB,AEVO/FDUSD, AEVO/USDT, APT/BTC, etc.
Have a beautiful new week !
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