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Are there price protections for crypto trading?

Trading Pair Order Price Limit
BTC/HKD 20%
BTC/USD 20%
ETH/HKD 20%
ETH/USD 20%
USDT/HKD 20%
USDT/USD 20%
 
The price protection mechanism is a key measure to protect users and prevent market manipulation. Specifically, when placing a trade order:
 
- If the bid price exceeds 120% of the latest market price, the order cannot be placed.
- If the ask price is below 80% of the latest market price, the order also cannot be placed.
 
For example, if the latest market price of the BTC/USD trading pair is US$70,000 and a user places a limit order to buy BTC at US$91,000, the order price is 130% of the current market price. This exceeds the 120% limit set by the trading rules, so the order will not be placed.