Cryptocurrency exchange Binance has announced its decision to modify its zero-fee Bitcoin trading program starting from September 7th. This move could potentially trigger a significant market shift, evoking memories of the 90% drop in volume observed After Binance ceased zero-fee trading in March .
In its official statement, Binance revealed its plan to revise zero-fee Bitcoin trading for the BTC/TUSD spot and margin trading pairs. Previously, traders enjoyed fee-free trading for BTC with the TUSD currency pair. However, this privilege will no longer be in place, as regular fees will be charged based on the user's VIP level. Nonetheless, users will not face pending order fees while trading Bitcoin on BTC/TUSD spot and margin trading pairs.
The change will also impact calculations for VIP levels and liquidity provider programs, along with resuming BNB discounts, referral rebates, and other fee adjustments for BTC/TUSD trading volumes. The decision to terminate the program may suggest waning support for the True USD (TUSD) stablecoin due to various concerns. However, users will still retain zero maker and taker fees when trading Bitcoin on First Digital Dollar (FDUSD) spot and margin trading pairs.
This alteration could potentially lead to an inadvertent market sell-off. Data from CoinMarketCap reveals that the BTC/TUSD and BTC/USDT currency pairs are among the most heavily traded, constituting 11% and 7% of Bitcoin's trading pairs, respectively. Tether Trans action Volume Pair has notably dropped after Binance's decision to stop supporting Binance USD and designate TUSD as the sole trading pair for zero-fee Bitcoin transactions.
Binance has once again shifted its focus from the widely traded TUSD to the lesser-known FDUSD stablecoin. It's worth noting that FDUSD, with a market cap of $324 million, does not feature among the top 10 Bitcoin pairs by volume.
