Binance, one of the world’s leading cryptocurrency exchanges, has announced its intention to modify its zero-fee Bitcoin trading program. Starting from September 7, the exchange will implement updates to the zero-fee Bitcoin trading for the Bitcoin/True USD (TUSD) spot and margin trading pair. This means that users will still encounter no maker fees when conducting Bitcoin trades on the BTC/TUSD spot and margin trading pair, but a regular taker fee will now be implemented based on the user’s VIP level.The move could potentially initiate a significant market downturn, similar to the 90% trading volume decline observed following Binance’s discontinuation of zero-fee trading in March. According to CoinMarketCap, the BTC/TUSD and BTC/USDT pairs are the most frequently traded for Bitcoin, constituting 11% and 7% respectively.Binance is now redirecting attention away from the widely traded TUSD to the lesser-known FDUSD stablecoin. The market capitalization of FDUSD stands at $324 million, and it does not rank within the top 10 Bitcoin pairs by trading volume. This could lead to another round of selloffs in the market.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
9 |
| People |
None |
| Companies |
Binance, True USD (TUSD), CoinMarketCap, Tether (USDT), FDUSD |
| Currencies |
Bitcoin, True USD, TUSD, FDUSD, Ethereum |
| Securities |
None |
