Cryptocurrency exchange Binance has terminated its zero-fee spot service for all Bitcoin trading pairs, with the exception of the TUSD/BTC pair.
Binance ran a promotion for nine months that eliminated all commissions for Bitcoin (BTC) spot trading on the site. According to independent experts, this measure helped the exchange increase its market share from 50% to 72%, outperforming most liquid exchanges in terms of growth.
Clara Medalie, director of research at cryptocurrency market maker Kaiko, said that as of last week, 61% of trading volume on Binance was commission-free bitcoin transactions.
However, as of yesterday, Binance has stopped buying and selling BTC with zero fees for all asset pairs, keeping the stock for TrueUSD (TUSD) stablecoin only.
Thus, Binance demonstrated to the market its intention to strengthen the position of TUSD as an alternative to the stablecoin Binance USD (BUSD), after its obstruction by US regulatory authorities.
Earlier, the Binance exchange announced the conversion of BUSD, which was stored in the user asset protection fund (SAFU), to the tokens of competitors TruUSD (TUSD) and Tether (USDT).
Source: Cryptocurrency
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