Binance Introduces Zero-Fee Trading for FDUSD Pairs
Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Tuesday its plan to launch zero-fee trading for six trading pairs involving First Digital USD (FDUSD). This initiative coincided with a notable jump in Bitcoin (BTC) prices to $42k, triggering positive sentiments among traders and potentially boosting global trading volume.
Zero-Fee Trading Offered on Six Pairs
As part of this announcement, Binance will facilitate zero-fee trading for the following pairs in both spot and margin trading:
- BNB/FDUSD
- DOGE/FDUSD
- ETH/FDUSD
- LINK/FDUSD
- SOL/FDUSD
- XRP/FDUSD
This promotional offer is set to commence on December 8, 2023, at 00:00 (UTC) and will remain valid until further notice. During this period, users engaging in trading these specific pairs will benefit from zero maker and taker fees. However, it’s important to note that standard trading fees will be applicable once the promotional period concludes.
Binance highlighted that the trading volume from these specific spot and margin trading pairs will not be considered for VIP tier volume calculations and liquidity provider programs during the promotional period. This exclusion applies to relevant programs where applicable.
Additionally, these trading pairs will be exempt from BNB fee discounts, fee rebates, or any other form of fee adjustments. The six pairs will also be excluded from promotions provided by Binance during the promotional period.
Global Crypto Market Update
On December 5, the global crypto market experienced a minor correction, with the cumulative market cap dropping by approximately 1% to reach $1.53 trillion. However, the total crypto market volume surged by 43.92% in the last 24 hours, reaching $87.57 billion.
Dogecoin (DOGE), the leading meme cryptocurrency, saw a 15% increase in price over the past 7 days, trading at an average price of $0.088 at the press time. Its 24-hour trading volume rose by 18% to stand at $1.14 billion.
Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, recorded a 10% surge in the last 7 days. Its 24-hour trading volume increased by 16%, reaching $14 billion, and ETH is currently trading at an average price of $2,206.
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