Binance US has recently announced its decision to back XRP, and as a result, the trading platform has now implemented updated maximum order limits for both Shiba Inu (SHIB) and XRP.

On Thursday, a change was implemented that affected 14 additional major cryptocurrencies as well as a total of 37 pairs in the over-the-counter trading portal of the exchange. The updated order limit is noteworthy.

According to the announcement, Binance's sister exchange in the US has raised the order limit for OTC trading of SHIB and XRP to $30,000.

Users of Shiba Inu and XRP can now trade their cryptocurrencies through several new trading pairs. These pairs include SHIB/USDT, SHIB/USDC, XRP/BTC, XRP/USDT, and XRP/USDC, providing greater flexibility and convenience for traders.

Thanks to the increased limits, traders now have the ability to put in orders for buying and selling on the BinanceUS OTC platform for a maximum of $30,000. This applies to the supported trading pairs for SHIB and XRP.

OTC trading is a way of trading cryptocurrencies where buyers and sellers negotiate directly to sell a specific amount of assets at a fixed price. This type of trading is beneficial as it helps to avoid market disruption and price slippage.

Binance US has raised the maximum order limit for specific trading pairs, including BTC, ETH, DOGE, ADA, and SHIB. The exchange has also increased the maximum OTC order limit for ADA to $30,000, while BTC and ETH now have a limit of $300,000.

According to reports, a sister exchange of Binance added a new conversion pair for XRP in the previous month. The exchange has now highlighted the distinctive consensus algorithm that is used on the XRP network.

Similarly, SHIB has received significant backing from the trading platform. BinanceUS has allowed its users to give Shiba Inu as a gift, and in May, the US-based platform introduced the dollar cost average investment strategy for SHIB users.

BinanceUS has demonstrated remarkable backing for Shiba Inu and XRP lately. The OTC order cap enhancement was particularly noteworthy as it followed the resumption of XRP trading on the exchange.

HYIPer.net » Binance US raised the OTC trading limits for Shiba Inu and XRP to $30000