![Binance’s zero-fee Bitcoin update could echo March downturn Binance’s zero-fee Bitcoin update could echo March downturn](https://i0.wp.com/images.cointelegraph.com/images/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDgvMmYwYzk5ZmItNmIwNS00ODBjLTg3NDEtOTcyNDA4ZmRiMDkzLmpwZw==.jpg?fit=%2C&ssl=1)
The Binance cryptocurrency exchange announced on Aug. 24 that it intends to modify its zero-fee Bitcoin trading plan. The action has the potential to trigger a sharp market decline reminiscent of the 90% drop in volume Binance observed in 2019 after it stopped zero-fee trading. March.
in an official statementCryptocurrency exchange Binance has unveiled plans to implement an update to bitcoin zero-fee trading starting September 7. Binance intends to revise zero-fee Bitcoin trading for the Bitcoin (BTC)/True USD (TUSD) spot and margin trading pair.
Previously, traders enjoyed zero maker and taker fees when using the TUSD currency pair for BTC transactions. However, regular recipient fees will now be charged based on the user’s VIP level. Despite this, users will still not encounter pending order fees when trading Bitcoin on BTC/TUSD spot and margin trading pairs.
“The corresponding volumes for BTC/TUSD spot and margin trading pairs will be counted towards VIP level calculations and all liquidity provider programs. Additionally, BNB discounts, referral rebates and any other fee adjustments will resume for BTC/TUSD spot and margin trading volumes .”
Binance appears to be terminating TUSD’s zero-fee Bitcoin trading program, suggesting that support for the TUSD stablecoin has dwindled due to various concerns. Importantly, users will still retain the privilege of zero maker and taker fees when trading Bitcoin on FDUSD spot and margin trading pairs.
Binance’s adjustment to the zero-fee Bitcoin trading scheme for BTC/TUSD spot and margin trading pairs may inadvertently trigger another round of sell-off in the market.
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according to According to data from CoinMarketCap, the BTC/TUSD and BTC/USDT currency pairs are the most frequently traded currency pairs in Bitcoin, accounting for 11% and 7%, respectively. Trading volumes for the Tether (USDT) currency pair have plummeted after Binance stopped supporting BUSD and designated TUSD as the only trading pair for zero-fee Bitcoin transactions.
The exchange has once again shifted its focus from the widely traded TUSD to the lesser-known FDUSD stablecoin. It is worth noting that FDUSD does not rank among the top 10 bitcoin pairs by volume, with a market capitalization of $324 million.
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