Market has celebrating the Bitcoin recent high of $42,000, and a lot of bears are awestruck with this unexpected Bitcoin move. Though, the biggest narrative for this bull run is expected upcoming Bitcoin ETF.
However, Binance has been making some great news lately, and the biggest news is for the crypto traders.
Binance just made a couple of big announcements that will directly impact many crypto traders – introducing zero fees trading for many major coin pairs against the FDUSD stablecoin, while also delisting a handful of outdated and low volume altcoins.
Here are the key details you need to know:
First, Binance is now offering zero-fee trading for six pairs:
This means no fees at all for trading these pairs, whether you’re a maker or taker. The zero-fee promotion starts from December 8th, 2023 and they have not announced the ending date for this promo.
So why FDUSD specifically?
FDUSD is a new Ethereum and BNB Chain-based stablecoin from Hong Kong financial firm First Digital. Binance is moving away from the popular BUSD stablecoin and will even auto-convert all remaining BUSD balances to FDUSD at a 1:1 rate by December 31st. So, the writing is on the wall that FDUSD will be Binance’s stablecoin.
If you would like to read more about FDUSD, here you can find the white-paper.
Personally, I feel this is a great opportunity for traders who are into grid bot trading or high-frequency trading to take advantage of zero-fee offers. As the market volatility is high, and the bull seems to be in control, I would strategically start a few grid-bot trades to make the most out of this offer. No fees means more profit potential on our trades.
Learn about Grid bot trading here.
A Few De-listing –
On the other side of the coin, Binance has announced they are delisting BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC) on December 7th. PERL and WTC, in particular, have already crashed 60-70% over the past couple of weeks in response to the Binance delisting news.
So if you are still holding any position in these cryptocurrencies – make sure to take some action before they are delisted. Delisted assets often quickly become illiquid and usually worthless, as we’ve seen in the past.
For now, the crypto market is moving very quickly, and if you don’t want to miss out on important updates, subscribe to CoinSutra news updates on Telegram or on X.
About Harsh Agrawal :
An award-winning blogger with a track record of 15+ years. He has a background in both finance and technology and holds bachelors degree in Information technology and engineering.
An international speaker and author who believes in the future of blockchain and the applications of the crypto world.
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Harsh has 15+ years of experience in Fintech and 7+ years in Blockchain and Bitcoin. He has also moderated the panel of Blockchain experts and attended international blockchain events like BTCMiami, Mainnet Messari, and Token2049.