The maximum order limits for OTC trading on Binance have been updated to $30,000 for selected Shiba Inu (SHIB) and XRP market pairs.
Following Binance US’s push to support XRP, the trading platform has introduced new maximum order limits for Shiba Inu (SHIB) and XRP.
This development took effect on Thursday. Notably, the updated order limit impacted 14 other top cryptocurrencies and a total of 37 pairs in the exchange’s over-the-counter (OTC) trading portal.
SHIB and XRP New OTC Order Limit
The announcement further showed that the US-based sister exchange to Binance increased SHIB and XRP order limit for OTC trading to $30,000.
The corresponding trading pairs involved in this welcome development for Shiba Inu and XRP users include — SHIB/USDT, SHIB/USDC, XRP/BTC, XRP/USDT, and XRP/USDC.
Due to the upgraded limits, traders can place buy and sell orders on the BinanceUS OTC portal for up to $30,000 on these supported SHIB and XRP trading pairs.
For context, OTC trading is a type of crypto trading that allows buyers and sellers to negotiate directly to sell a specific amount of assets at a single fixed price. OTC trading helps to prevent market disruption and price slippage.
Besides SHIB and XRP, Binance US increased the maximum order limit for selected BTC, ETH, DOGE, and ADA trading pairs in its OTC portal. The new maximum OTC order limit for ADA stood at $30,000. Meanwhile, the exchange increased that of BTC and ETH to $300,000.
Increased Support for XRP and Shiba Inu
As reported by The Crypto Basic, the Binance sister exchange introduced a new convert pair for XRP last month. Recently, it spotlighted the unique consensus algorithm employed on the XRP network.
Likewise, the trading platform has been quite supportive of SHIB. It bears mentioning that BinanceUS recently enabled its users to gift Shiba Inu. In May, the US-based trading platform equally launched the dollar cost average investment strategy for Shiba Inu users.
Overall, the support for Shiba Inu and XRP by BinanceUS has been impressive in the past months. Notably, this OTC order limit upgrade came shortly after the exchange resumed XRP trading.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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