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Binance Zero-Fee Trading is engaging traders’ eyes. The world’s leading crypto exchange announced a significant move on December 5th, initiating zero-fee trading for six FDUSD spot and margin pairs. The exchange plans to implement this groundbreaking feature for renowned cryptocurrencies, including Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK).
Key Highlights:
- Binance is set to launch zero-fee trading for major spot and margin trading pairs including BNB/FDUSD, DOGE/FDUSD, ETH/FDUSD, LINK/FDUSD, SOL/FDUSD, and XRP/FDUSD starting from December 8, 2023, at 00:00 (UTC).
- This promotion of zero maker and taker fees for the specified pairs will remain valid from December 8, 2023, at 00:00 (UTC) until further notice.
- During the promotional period, trading volume from these pairs will not be considered in VIP tier volume calculations or Liquidity Provider programs where applicable.
- Any BNB fee discounts, fee rebates, or other fee adjustments will not apply to these specified spot and margin trading pairs.
Marking a Milestone in Binance Zero-Fee Trading
As of December 8th, starting at 00:00 UTC, users will benefit from zero maker and taker fees for these pivotal pairs, as confirmed by Binance in an official announcement. This bold initiative aims to enhance accessibility and stimulate active trading within the crypto market.
The zero-fee trading promotion will encompass key pairs such as BNB/FDUSD, DOGE/FDUSD, ETH/FDUSD, LINK/FDUSD, SOL/FDUSD, and XRP/FDUSD. During this period, the trading volume for these pairs won’t factor into VIP tier volume calculations or Liquidity Provider programs.
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Restrictions and Exclusions
However, it’s important to note that these spot and margin trading pairs won’t be eligible for BNB fee discounts, fee rebates, or any other fee adjustments or promotions provided by Binance.
In addition to the zero-fee trading, Binance also introduces a one-hour interest fee waiver for various pairs, including BTC, DOGE, ETH, GALA, GMT, LINK, MATIC, ORDI, SEI, SOL, TIA, and XRP. Users engaging in margin trading with these cryptocurrencies will automatically receive this waiver until December 18th, 09:00 UTC.
This latest move by Binance follows its inclusion of FDUSD, responding to the cessation of BUSD support. Simultaneously, the exchange is gradually delisting BUSD pairs, paving the way for the zero-fee trading revolution.
Binance Zero-Fee Trading Impact on Cryptocurrency Prices
The introduction of zero-fee trading is anticipated to propel a surge in the prices of ETH, BNB, XRP, DOGE, SOL, and LINK. Notably, these cryptocurrencies are already hovering around critical resistance levels.
Market Overview
XRP’s current trading price stands at $0.62, marking a 1% decline in the last 24 hours due to profit booking. Its trading volume surged by 60% during this period, signifying heightened trader interest.
SOL and LINK also experienced profit booking following substantial growth earlier in the week, while ETH, DOGE, and BNB are currently stabilizing after recent gains.
In summary, Binance’s strategic move to implement zero-fee trading for major cryptocurrency pairs is poised to significantly influence market dynamics, potentially boosting trade volumes and reshaping the landscape for traders and investors alike.
