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Binance shut down for 8 hours: New “OCO” Update expected

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Binance will perform a scheduled system update as of 2019/08/15 02:00 (UTC). The upgrade is expected to last for about 6 to 8 hours.

Binance will add 3 new features
Binance, the leading cryptocurrency exchange, announced that it will update the system for new features. With this upgrade, traders will come to the most desired feature. This OCO order allows users to create two orders in which one order will be automatically canceled if one order is executed. This will be very useful for very specific traders or the most experienced and sophisticated investors.

The main developments in this upgrade are:

Matching Engine, API and WebSocket performance optimizations.
New order type: OCO (Order Cancellation Order) is available through the API.
5,000 and 10,000 order book levels are available from the Rest API (GET API / v1 / deep).
Binance will suspend deposits, withdrawals, and trading during the upgrade period. Unfinished deposits will be processed after the upgrade is completed before the upgrade starts.

After the upgrade, another announcement will be made. The stock market will provide users with a 30-minute front window to cancel orders, withdraw deposits, make withdrawals, and use all other account-related functions before proceeding.

Users with open margin positions are advised to reassess collateral balances before the start of the upgrade to mitigate price fluctuations during the upgrade.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.