Binance Launches Zero-Fee Bitcoin and Ethereum Trading with FDUSD Stablecoin. The move aims to boost trading volume and liquidity on the exchange.
On August 3, Binance, the world’s largest cryptocurrency exchange, announced the introduction of zero-fee trading for Bitcoin and Ethereum, along with the newly added FDUSD stablecoin spot and margin pairs. This move comes after Binance had previously ended zero-fee trading for most pairs, except for TrueUSD (TUSD), in March.
Starting from 08:00 UTC on August 4, users can enjoy zero maker and taker fees for BTC/FDUSD spot and margin trading pairs under the Zero Fee Bitcoin Trading Program. Additionally, users can trade ETH/FDUSD with zero maker fees, with standard taker fees applicable based on their VIP level.
It’s important to note that trading volume on the BTC/FDUSD spot and margin pairs will not be included in the VIP tier volume calculation and all Liquidity Providers program, providing users with a better trading experience. During the promotion, BNB discounts, referral rebates, and other adjustments will not apply to the BTC/FDUSD spot and margin trading pairs.
In March, Binance made significant changes to its trading program, ending the zero-fee Bitcoin trading program and the zero-maker fee promotion for the BUSD stablecoin. Instead, they switched to using the low-market cap stablecoin TrueUSD (TUSD). Additionally, Binance removed Tether (USDT) from the zero-fee trading program, resulting in a market share drop of over 50% and a significant decrease in trading volumes on the exchange.
FDUSD’s Potential Impact on the Crypto Market and Binance’s Dominance
First Digital USD (FDUSD), backed by Hong Kong-based custodian First Digital, currently holds a market cap of $257 million, which is relatively low compared to other stablecoins like USDT, TUSD, BUSD, and USTC. As of now, FDUSD’s influence on the crypto market is limited. However, Binance’s minting of new FDUSD tokens in response to demand can lead to a significant boost in its market cap.
Despite FDUSD’s current market cap, Binance remains the leading exchange for Bitcoin trading. The most traded pairs on Binance are BTC/TUSD and BTC/USDT, accounting for 14.80% and 6.88% of the total trading volume, respectively. Binance’s prominence in Bitcoin trading further strengthens its position in the crypto market.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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