Binance’s transaction fee planning for BTC/TUSD spot and margin pair could create a new selling wave in the crypto market.
According to the news of Cointelegraph, Binance’s updates to Bitcoin (BTC) transactions from September 7 may affect the crypto market. In the event that was the subject of the news, it was stated that Binance will update its Bitcoin trading program.
According to the statement from Binance, the exchange plans to replace the zero-fee Bitcoin trading for the BTC/TUSD pair. Planning includes changes according to VIP level. Cointelegraph stated that this situation may create selling pressure in the market.
Binance’s move draws attention
Binance is making some changes to the BTC/TUSD trading pair. These changes include the transaction fee.
Previously, Binance users did not pay any buyer and maker fees when trading BTC with TUSD pairs. However, with its latest update, Binance will apply a regular transaction fee to its users, depending on the VIP level. In this context, users will not face any maker fees when making Bitcoin transactions in the BTC/TUSD spot and margin pair.
In the statement from Binance, the following statements were included;
The relevant trading volume in the BTC/TUSD spot and margin trading pair will be taken into account in the VIP tier calculation and in all Liquidity Provider programs. In addition, BNB discounts, referral refunds and other fee adjustments will continue for BTC/TUSD spot and margin trading volumes.
This move of the stock market has entered Cointelegraph’s radar. Cointelegraph reported that Binance will terminate the zero fee BTC/TUSD trading pair. Stating that this situation will cause various concerns, Cointelegraph stated that selling pressure may be observed in the market.
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