CryptoMarketMaking

Binance, a leading cryptocurrency exchange, has unveiled its "Altcoin LiquidityBoost Program," aiming to enhance market-making opportunities for small and medium-sized liquidity providers focusing on altcoins.
Key Highlights
Program Overview: The initiative offers attractive discounts, up to 1 basis point (bps), for qualified liquidity providers who meet specific volume requirements on selected altcoins.Eligibility Criteria: Participants must demonstrate quality liquidity provision strategies and achieve a 30-day trading volume exceeding 20 million USDT equivalent on Binance Spot and Margin or other platforms.Program Timeline:Qualification Start: June 10Maker Fee Discounts Begin: June 18Objective: By focusing on altcoins, the program seeks to diversify liquidity sources and provide smaller market participants with competitive advantages, without the necessity to engage in market-making for major cryptocurrencies like Bitcoin.
Official Statement
Catherine Chen, Head of Binance VIP & Institutional, stated:
“We are responding to the demand of market participants, particularly small and medium-sized liquidity providers, who want the opportunity to focus on market-making for altcoins. Our new liquidity program focused on altcoins helps liquidity providers of all levels compete in the market without the pressure of market-making on bitcoin and other large-cap cryptos.” 
Conclusion
Binance's "Altcoin LiquidityBoost Program" represents a strategic move to foster a more inclusive and diversified trading environment. By lowering barriers for smaller liquidity providers, the exchange aims to enhance the overall liquidity and stability of altcoin markets.

#BinanceUpdates #AltcoinLiquidity #CryptoMarketMaking

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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.