The world’s largest cryptocurrency exchange Binance is launching zero-fees trading for Ethereum (CRYPTO: ETH) on its platform.
What Happened: Binance said that the zero fees trading option for ETH would go live on Friday.
Trade $ETH for free on #Binance. https://t.co/iTQcgQMFsL
— CZ Binance (@cz_binance) August 23, 2022
The zero fees option will apply for the ETH/BUSD spot trading pair. BUSD or Binance USD (CRYPTO: BUSD) is a Binance-issued stablecoin that is pegged to the value of the U.S. Dollar. At press time, BUSD had a market cap of $19 billion, making it the third largest stablecoin after Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC).
Last month, Binance launched a zero Bitcoin trading fees option for users worldwide to commemorate its 5thbirthday. The zero fees offers comes at a time when the crypto market has been in largely bearish territory, forcing other exchanges like Coinbase Global Inc (NASDAQ:COIN) to report lower revenues due to a slowdown in trading activity.
No one’s following, so we are in a race to 0 with ourselves. Leading is lonely sometimes.
8/23, #Binance Launches 0-Fee ETH Trading
7/6, #Binance Launches 0-Fee BTC Trading
2/14, #Binance Extends 0 Fee to all $USD stablecoin pairs
12/17, #Binance Extends 0 Fee for 4 BUSD Pairs— CZ Binance (@cz_binance) August 23, 2022
Binance CEO Changpeng Zhao said that Binance was “making enough” to offer competitive products to users.
We are making enough.
— CZ Binance (@cz_binance) August 23, 2022
See Also: HOW TO BUY ETHEREUM (ETH)
Price Action: At press time, BTC and ETH were trading at $21,322 and $1,629 at press time, up 0.07% and 0.50% respectively over the last day. Dogecoin (CRYPTO: DOGE) was trading at $0.067, down 1.3% over the same period, as per data from Benzinga Pro.
