Binance Do More? Binance's Planned Action Raises Market Concern

<p>&nbsp;The world's largest crypto exchange, Binance, announced on Thursday that it plans to make changes to its zero-fee Bitcoin trading program. This move is likely to trigger another massive sell-off in the crypto market as trading volume will be hit like the previous 90% drop in trading volume after Binance's no-fee trading halt in March.</p><p><br /></p><p>Crypto exchange Binance in an official announcement on August 24th revealed that they will be updating free Bitcoin trading from September 7th. Binance plans to make changes to Bitcoin trading without fees for BTC/TUSD spot and margin trading pairs.</p><p><br /></p><p>Users are currently enjoying trading without additional fees trading BTC with TUSD. Now, trading without additional fees is only for VIP users. However, users will continue to enjoy zero fees when trading Bitcoin on BTC/TUSD spot and margin trading pairs.</p><p><br /></p><p><br /></p><p>Binance appears to want to end its no-fee Bitcoin trading program for TUSD, reducing its support for the True USD (TUSD) stablecoin following a number of issues. Users will continue to enjoy zero fee payments when trading Bitcoin in the FDUSD spot and margin trading pairs.</p><p><br /></p><p>According to CoinMarketCap, BTC/TUSD and BTC/USDT are the most traded pairs for Bitcoin, accounting for 11% and 7% respectively. Trading volume in the Tether (USDT) pair declined after Binance stopped supporting BUSD and announced TUSD as the only trading pair for Bitcoin trading without fees.</p><p><br /></p><p>However, the exchange has again shifted its focus from the majority-traded TUSD to the lesser-known stablecoin FDUSD. It is not even included in the top 10 Bitcoin pairs in terms of trading volume. This will likely trigger a further decline in trading volume, causing more pressure on the market. The market capitalization of FDUSD is only $324 million.</p>