{"id":44405,"date":"2023-01-25T15:24:43","date_gmt":"2023-01-25T19:24:43","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=44405"},"modified":"2023-01-25T15:25:33","modified_gmt":"2023-01-25T19:25:33","slug":"binance-releases-new-api-spot-trader-feature","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-releases-new-api-spot-trader-feature\/","title":{"rendered":"Binance releases new API spot trader feature"},"content":{"rendered":"\n
Binance, a major cryptocurrency exchange<\/a>, has introduced a new feature that will stop users from self-trading on the platform.<\/h5>\n\n\n\n
\"Binance
Binance releases new API spot trader feature<\/figcaption><\/figure>\n\n\n\n

Binance unveiled the Self-Trade Prevention\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (STP) feature in a blog post on January 25 for customers who use the platform's spot trading API to trade on the spot market.<\/p>\n\n\n\n

The new feature, which becomes operational on January 26, tries to stop the execution of orders that can lead to self-trade. Self-trading happens when the same users are on both sides of a deal, indicating that the ownership of the traded asset has not changed. <\/p>\n\n\n\n

Such behavior is a type of market manipulation that gives the appearance of trade activity. Binance pointed out that certain inadvertent self-trading operations did occur.<\/p>\n\n\n\n

The blog article claims that experienced traders who employ numerous methods simultaneously run the risk of mistakenly matching two orders coming from the same trading desk. <\/p>\n\n\n\n

The exchange giant emphasized that, despite the platform's acknowledgment of such mishaps, the company's conditions of service forbid purposeful self-trades.<\/p>\n\n\n\n

The adoption of STP enables customers to avoid paying fees on pointless trades and reduces unintentional self-trading activities. Customers who trade on the Binance website, desktop, or mobile apps cannot use the new capability because it is intended for API users only.<\/p>\n\n\n\n

The debut of Binance's new tool comes as the cryptocurrency exchange battles FUD from rivals. In a recent article published by crypto.news, the CEO of the firm, Changpeng Zhao<\/a>, alleged that a bankrupt competitor, FTX, had paid over $43 million to a cryptocurrency news website to post unfavorable information about Binance.<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance, a major cryptocurrency exchange, has introduced a new feature that will stop users from self-trading on the platform. Binance unveiled the Self-Trade Prevention (STP) feature in a blog post on January 25 for customers who use the platform’s spot trading API to trade on the spot market. The new feature, which becomes operational on […]<\/p>\n","protected":false},"author":43,"featured_media":44407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[13148,326,1749],"class_list":["post-44405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-api-spot","tag-binance","tag-changpeng-zhao"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/croc_1674666894970.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=44405"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/44407"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=44405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=44405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=44405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}