Trading steps for LOC have been reduced on HitBTC

Dear Community!

As you know, HitBTC is the most important exchange we are currently listed on. As a result, it also plays an important role when it comes to price formation through our three trading pairs USDT/LOC, ETH/LOC and BTC/LOC.

Until now, the first two of the above had very high trading steps of 0.0001 ETH and 0.1 USDT respectively. So, the order book had to have the following structure (for example):

0.5 USDT/LOC

0.6 USDT/LOC

…

This lead to spreads of around %20 and slowed down price movement due to heavy order placements (of up to 10,000 LOC) on each price step. Traders did not have the chance to place their order at their preferred level and had to choose between rough steps, which also eliminated competition between the orders placed.

To solve this issue, we reached to HitBTC and asked them to reduce the steps. As a result, you are now able to trade smoothly and at the price you prefer, without any compromises.

Steps were reduced to 0.000001 ETH and 0.00001 USDT respectively. BTC steps remained the same as this pair had smooth steps already.

To counterbalance, the lot sizes were increased to 10 LOCs each. This means, that from now on, you will only be able to trade in multiples of 10 LOC on the HitBTC exchange.

Happy trading!