- In an official statement, cryptocurrency exchange Binance announced its plans to update the zero-fee Bitcoin trading from September 7th.
- Previously, traders experienced zero maker and taker fees when trading BTC with TUSD pairs. However, now a regular taker fee will be applied depending on the user’s VIP level.
- It seems that Binance is discontinuing the zero-fee Bitcoin trading initiative for TUSD and showing decreasing support for the TUSD stablecoin due to various concerns.
Binance is updating its zero-fee transaction campaign launched in the TUSD pair: Could the exchange be giving up on the zero-fee transaction initiative?
Binance Updates Zero-Fee Transaction Campaign
Binance has announced its intention to change the zero-fee Bitcoin trading program. This move has the potential to trigger a significant market downturn reminiscent of the 90% decrease in trading volume observed after Binance discontinued zero-fee trading in March.
In an official statement, cryptocurrency exchange Binance announced its plans to update the zero-fee Bitcoin trading from September 7th. Binance aims to change the zero-fee Bitcoin trading for the Bitcoin/True USD (TUSD) spot and margin trading pair.
Previously, traders experienced zero maker and taker fees when trading BTC with TUSD pairs. However, now a regular taker fee will be applied depending on the user’s VIP level. Nevertheless, users will still not have to pay maker fees when conducting Bitcoin transactions in the BTC/TUSD spot and margin trading pair. The exchange explains as follows:
“At the same time, the relevant trading volume in the BTC/TUSD spot and margin trading pair will be included in VIP level calculations and all Liquidity Provider programs. Additionally, BNB discounts, referral rebates, and other fee adjustments will resume for BTC/TUSD spot and margin trading volumes.”
It seems that Binance is discontinuing the zero-fee Bitcoin trading initiative for TUSD and showing decreasing support for the TUSD stablecoin due to various concerns. Importantly, users will still be able to maintain zero maker and taker fees when conducting Bitcoin transactions within the FDUSD spot and margin trading pair.
Binance’s adjustment to zero-fee Bitcoin trading for the BTC/TUSD spot and margin pair could inadvertently increase the risk of another selling wave in the market.
BTC/TUSD Among the Most Traded
According to data, the BTC/TUSD and BTC/USDT pairs are the most traded pairs for Bitcoin, accounting for 11% and 7% of trading volume, respectively. The trading volume in Tether (USDT) pairs experienced a significant decrease after Binance discontinued support for BUSD and designated TUSD as the sole pair for zero-fee Bitcoin trading.
Once again, the exchange is directing widely traded TUSD towards the lesser-known FDUSD stablecoin. Importantly, FDUSD does not rank among the top 10 Bitcoin pairs based on trading volume, and its market value stands at $324 million.
