The tension between Binance and FTX, which has been going on for several days, has peaked today with the news that Binance will buy FTX.
Although the market moved upwards after the news, Binance CEO CZ’s failure to talk about a “firm purchase” and the fact that he could cancel the purchase without being sanctioned if he saw a big problem in the FTX exchange upset the market.
On the other hand, the fact that the US Commodity Futures Trading Commission (CFTC) will conduct research on this issue also had a negative impact on the market.
While all this was happening, FTX, which fell to the level of $ 2.50, received a 75% reaction from this level and traded at $ 4.60.
After this drop, Binance exchange announced that it will make an update on FTX. With the update, more numbers will now appear after the dot in FTX parities. With the updating of this concept called “Tick Size”, 2 more digits will be added to the USDT parity of FTX after the point.
For example, the FTX / USDT parity, which is currently $ 4.60, will now be seen as 4.600.
Since the price has dropped to single digits, this update has been activated on Binance as of now, as orders can be written to more levels.