Binance announces zero-fee trading on the Ethereum pair with BUSD
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Answer Binance announces zero-fee trading on the Ethereum pair with BUSD
Prior to the advent of the Ethereum “Merge” merger, Binance announced no-fee trading for the ETH and BUSD trading pair.
The long-awaited merger is scheduled to happen on September 15th, of course subject to technical changes.
As the cryptocurrency market anticipates increased interest in Ethereum in the coming days, Binance has announced a zero-fee trading of the Ethereum pair with its digital stablecoin.
Lately, there has been huge activity around Ethereum trading as the market prepares for this event.
Zero Fees for Ethereum Trading:
In an announcement on Tuesday, the cryptocurrency trading platform said that there will be no fees for makers or futures of the trading pair.
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No-fee trading will be enabled approximately 20 days prior to the merge event.
Binance will offer no-fee trading for the spot trading pair ETH/BUSD on August 26, the company said in an official announcement.
It was stated in the advertisement:
All users will enjoy zero maker and taker fees for the ETH/BUSD spot trading pair.
The ETH/BUSD spot trading pair will be excluded from BNB fee rebates, fee rebates or any other form of fee adjustment or fee promotion.
The Ethereum integration will transform the network from a Proof of Work (PoW) mechanism to a Proof of Stake (PoS) consensus mechanism.
Once the upgrade is complete, this should help Ethereum move to stake, thus increasing scalability and reducing electricity consumption.
Also, the cryptocurrency Ethereum can turn into a deflationary asset after the merger due to the decrease in future supply due to the burning mechanism.
Demand for Ethereum:
The price of Ethereum is expected to rise in the near future.
Ethereum developer Vitalik Buterin predicted that the price of Ethereum could rise about eight months after the merger upgrade next month.
Read:Ethereum mining revenue drops significantly to its lowest level in 7 months
In the last month, the price of Ethereum rose significantly as traders anticipate the demand for the asset as the consolidation upgrade approaches.
At press time, Ethereum is trading at $1,620, down 14% in the last 7 days.
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