Overview
- Binance, which detailed the Spot Price Range Execution Rule on Tuesday, will begin a phased launch on April 14 across spot markets.
- Orders will execute only inside a dynamic band set above and below a reference price derived from recent trades.
- Taker orders, including market orders, that push past the band see the out-of-range portion expire during execution.
- Traders should expect more delayed or unfilled market orders during rapid moves because execution stops at the band.
- The change follows October 2025 liquidity shocks and underscores a shift toward circuit-breaker style safeguards on crypto spot venues.