Binance CEO Changpeng Zhao recently revealed in a tweet a new feature on the exchange, the One Cancels the Other (OCO)
What's an OCO order?
— CZ Binance (@cz_binance) June 26, 2019
If one examines the image of the Binance tweet, it is possible to see that next to the Limit and Market option there is the one for One-Cancels-the-Other, a function similar to the Limit Order and Market Order that traders generally use to mitigate risk in periods of uncertainty.
This OCO helps traders to set up to 2 orders when the price starts to move and if one is executed the other is cancelled. Whereas, usually, a trader can place one order at a time.
Recently Binance has also added margin trading to the platform with a new interface: Binance 2.0. Furthermore, a few days ago there was also a successful hard fork upgrade of the Binance Chain testnet, Galileo.
This upgrade has brought a number of changes, such as:
- Delisting of low liquidity trading pairs on Binance DEX;
- Time Locking of the tokens on Binance Chain;
- Increased State Sync;
- Improvement of the Match Engine.