In a move to bolster support for cryptocurrencies such as Shiba Inu (SHIB) and XRP, BinanceUS has recently introduced new maximum order limits for these tokens. The changes took effect on Thursday and have extended to other prominent cryptocurrencies as well. This update is expected to enhance trading opportunities and reduce market disruption for traders using Binance US’s over-the-counter (OTC) trading portal.
BinanceUS now increases buy and sell orders for SHIB and XRP up to a value of $30,000
The enhanced order limits apply to a range of trading pairs, including SHIB/USDT, SHIB/USDC, XRP/BTC, XRP/USDT, and XRP/USDC. Traders using Binance US’s OTC portal can now place buy and sell orders for SHIB and XRP up to a value of $30,000, offering greater flexibility for participants in these markets.
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Over-the-counter (OTC) trading is a form of cryptocurrency trading that allows buyers and sellers to negotiate transactions directly, usually involving significant quantities of assets, at a fixed price. This method is favoured for its ability to prevent market disruptions and minimize price slippage, as compared to traditional exchange-based trading.
Beyond SHIB and XRP, Binance US has extended its updated maximum order limits to various other top cryptocurrencies. For instance, the maximum OTC order limit for Cardano (ADA) has been raised to $30,000, while Bitcoin (BTC) and Ethereum (ETH) have had their respective limits increased to $300,000. This broader move to adjust limits demonstrates Binance US’s commitment to offering a more versatile and accommodating trading experience for its users.
The recent development shows Binance US’s renewed support for XRP trading
The recent changes follow Binance US’s renewed support for XRP trading after a temporary halt. This demonstrates the platform’s intention to continuously adapt and evolve its offerings to align with market demands and regulatory developments.
Binance US has also shown significant support for Shiba Inu in the past months. This includes enabling users to gift Shiba Inu tokens and introducing the dollar cost average investment strategy tailored for SHIB users. These initiatives further underscore Binance US’s dedication to enhancing the utility and accessibility of cryptocurrencies beyond conventional trading.
As the cryptocurrency landscape continues to evolve, Binance US’s proactive approach in supporting tokens like SHIB and XRP showcases its commitment to fostering innovation and offering a wide range of options to traders. The recent adjustments to maximum order limits on its OTC portal reflect the exchange’s ongoing efforts to provide a seamless and efficient trading experience for its users.