"Let's be honest, it's not because of this that the crypto market will go up."
Cryptocurrency giant Binance has not only announced zero-fee* Bitcoin (BTC) and Ethereum (ETH) trading, but spot pairs and stablecoin margin FDUSD are reportedly being added to its platform.
*Offer zero trading fees for Taker and Maker transactions for all users
In addition to being able to trade ETH/FDUSD through zero maker fees, users will enjoy zero maker and taker fees for spots including margin under the BTC Zero Fee Trading Program on August 4, 2023.
Trading volume on BTC/FDUSD spot and margin trading pairs has been excluded from the Liquidity Provider program as well as VIP level volume calculation, so users can have a better trading experience.
In context, Binance which ended its BTC zero-fee trading program and BUSD zero-maker fee promotion in March 2023 has switched from BUSD to TrueUSD (TUSD) which has a low market capitalization.
The crypto exchange then removed Tether (USDT) from the zero-fee trading program, causing Binance shares to fall by more than 50% while its trading volume also dropped significantly.
Back to FDUSD, the stablecoin has been backed by Hong Kong-based company First Digital but its market capitalization of $257 million is still low compared to other stablecoins such as USDT, TUSD, BUSD and USTC.
While it won't have much of an impact on the crypto market at the moment, generating new FDUSD could cause the digital asset's market capitalization to see a significant spike.
Please note that Binance remains the top crypto exchange for BTC trading, where BTC/TUSD and BTC/USDT on Binance are the most traded pairs.
