The World’s Largest Crypto Exchange, Binance, Announces Changes to Zero-Fee Bitcoin Trading Program
Binance, the world’s largest crypto exchange, has announced that it will be making changes to its zero-fee Bitcoin trading program. This move is expected to have a major impact on the crypto market, similar to what happened when Binance terminated its zero-fee trading in March.
Key Points:
- Binance will be updating its zero-fee Bitcoin trading program from September 7.
- Users will now have to pay a standard taker fee based on their VIP level when trading BTC with TUSD pairs.
- Zero maker fees will still apply when trading Bitcoin on the BTC/TUSD spot and margin trading pair.
- BNB discounts, referral rebates, and other fee adjustments will also resume for BTC/TUSD spot and margin trading volumes.
- Binance’s shift in focus from TUSD to FDUSD stablecoin is likely to cause a decline in trading volumes and put more pressure on the market.
Crypto Market Selloff Expected
By making changes to its zero-fee Bitcoin trading program, Binance is inadvertently triggering another selloff event. The termination of zero-fee trading for TUSD pairs and the shift towards FDUSD stablecoin is expected to have a negative impact on trading volumes and market pressure.
Hot Take:
Binance’s decision to change its zero-fee Bitcoin trading program may result in a major selloff in the crypto market. This move could potentially affect the trading volumes and market dynamics, leading to a period of uncertainty for crypto investors.
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