WAR FOR the ALTS!
#Binance launches "Altcoin LiquidityBoost"
The giant seeks to UNLEASH the power of #altcoins and REDEFINE market making?
Binance, the largest cryptocurrency exchange in the world, has announced a strategic move that could change the game for the altcoin market: the launch of its first exclusive spot liquidity program for altcoins, called "Altcoin #LiquidityBoost ".
This program is designed to foster greater diversity and market depth, particularly for alternative cryptocurrencies.
Exclusive Program for Altcoins: "Altcoin LiquidityBoost" is Binance's first liquidity program that focuses solely on altcoin trading pairs.
Attractive Rebates for Market Makers: Binance claims that the program will offer the "most rewarding altcoin market-making rebates in the industry," with a maximum of 1 basis point (bp) compared to the 0.8 bp offered by existing programs on other major exchanges.
Attracting SME Liquidity Providers: The program is specifically designed to attract small and medium-sized liquidity providers, allowing them to specialize in market making for selected altcoins.
"We are responding to the demand from market participants, particularly small and medium-sized liquidity providers, who are looking for the option to focus on market making for altcoins," stated Catherine Chen, head of Binance VIP and Institutional. "Our new altcoin-focused liquidity program helps liquidity providers of all levels compete in the market without the pressure of market making in bitcoin and other large-cap cryptocurrencies".
