On 2023-03-22 00:00 (UTC), Binance discontinued its zero-fee buying and selling of bitcoin (BTC) for various asset pairs, retaining the offer only for the TrueUSD (TUSD) stablecoin.
In a previous announcement, Binance has confirmed that users will still be able to trade BTC on the BTC/TUSD spot trading pair with zero maker and taker fees.
Binance introduced zero-fee trading for BTC spot trading pairs in July 2022, to celebrate its 5th aniversary.
According to Kaiko data, trading pairs with zero fees have accounted for roughly 60% of the total trading volume on the platform, highlighting the significance of TUSD as Binance's preferred stablecoin.
"This is a pretty big deal. Zero fees helped them gain a massive +20% market share since July." Clara Medalie, the Director of Research at Kaiko, wrote in a tweet.
Binance just eliminated most zero-fee #BTC trading.
— Clara Medalie (@Clara_Medalie) March 22, 2023
This is a pretty big deal. Zero fees helped them gain a massive +20% market share since July. pic.twitter.com/nhDqz6sZxH
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