Binance Co-Founder: Monthly Deposit Limit for Market Makers

IconCryptoNewsTerminal Staff13 Jun, 2024

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Binance Co-Founder: Monthly Deposit Limit for Market Makers

Binance co-founder He Yi has announced that the exchange will set a monthly deposit limit for market makers. This move comes in response to concerns about the impact of market makers on the market. According to Yi, market makers have been exploiting the lack of regulation in the cryptocurrency market to manipulate prices. This has led to a number of problems, including increased volatility and reduced liquidity. In order to address these issues, Binance will set a limit on the amount of money that market makers can deposit into the exchange each month. This limit will be based on a number of factors, including the market maker's trading volume and the size of their deposits. Yi also said that Binance will provide guidance to new projects on how to issue tokens and list them on the exchange. However, he emphasized that Binance does not intervene in the initial offering price of tokens. The move by Binance to set a monthly deposit limit for market makers is a significant step towards addressing the problem of market manipulation in the cryptocurrency market. It is likely to have a positive impact on the market, making it more stable and liquid.

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