Global cryptocurrency exchange OKX has announced the addition of the MOVE/USDC trading pair to its spot trading platform, supporting the growth of the USDC ecosystem and meeting the diverse needs of its users.
OKX to Introduce MOVE/USDC Spot Trading Pair with Special Auction Mechanism
The launch will include a call auction mechanism and trade assurances to manage price volatility.
Key Details of the Launch
The call auction for the MOVE/USDC pair will take place between 17:30 and 18:30 on December 9, 2024. This mechanism allows for the accumulation of orders before the market opens to ensure smoother price discovery.
Spot Trading Start:
Spot trading will officially begin on December 9, 2024 at 18:30.
Initial Trading Rules
OKX will implement the following restrictions during the first 5 minutes after launch to minimize price volatility and protect investors during the first minutes of trading:
Market orders will not be allowed.
The value of limit orders will be capped at $10,000.
These restrictions will be lifted after the 5-minute period, allowing for unlimited trading activity.
The call auction period offers users the opportunity to place and adjust orders before active trading begins. This approach reduces volatility by matching orders in groups and ensures fairer price formation at market opening.
The launch of the MOVE/USDC pair underscores OKX’s commitment to supporting the USDC ecosystem while providing users with more trading options.
This move is in line with the platform’s ongoing efforts to evolve its offering and deliver value to the trading community.
For more information about the trading rules and call auction mechanism, users can visit OKX’s official trading guidelines.
*This is not investment advice.
