The world's largest crypto exchange Binance on Thursday announced that they will relaunch zero trading fees for a limited period from today onwards. Users will be able to enjoy zero trading fees when buying cryptocurrencies from May 18-June 18, 2023. However, the limited-time zero trading fees only apply to Auto-Invest.
Analysts believe the move comes as Bloomberg reports that Binance continues to lose its dominance in the crypto market due to increased scrutiny and regulatory action by US regulators. Additionally, Binance faced low liquidity compared to the previous quarter.
Crypto exchange Binance is introducing zero-fee crypto trading for Auto Invest investors, based on an official announcement on May 18. Zero trading fees will be available for one month only, May 18-June 18.
Users will be able to buy over 210 cryptocurrencies including BNB, Ethereum, Shiba Inu, PEPE and others at Auto Invest. Auto-Invest is an investment strategy (DCA) that allows users to automate their crypto investments and earn passive income at the same time.
On March 15, Binance ended its zero-fee BTC trading program. Since then, trading volume on the exchange has dropped significantly as most of the “volume” comes from the BTC/USDT pair. The CFTC lawsuit against Binance and CEO “CZ” adds more challenges.
The US SEC is also close to bringing enforcement action against Binance. In response, Binance's CEO plans to reduce his stake in crypto exchange Binance.US to reduce the impact on his branch.
