Binance Decreases Trading Fee to Zero on Ethereum
Binance has lowered the trading charges for its pair of ETH/BUSD, as Changpeng Zhao (the CEO of the exchange) is endeavoring to onboard one billion additional consumers. The CEO has been openly vocal regarding his strategy to onboard another one billion people to the crypto space through Binance during the coming few years. He is of the view that BNB, Bitcoin, as well as the rest of such digital assets, have the potential to correct the world.
Binance Drops the Trading Charges to Zero for ETH/ BUSD and BUSD/BNB Pairs
He specifically discussed the ability of Bitcoin to provide people with a heightened level of property rights that they have never experienced before. As per him, BTC is extremely rare, the thing which denotes its significance in an inflationary atmosphere. The exchange had in advance eliminated the trading charges for ETH/BUSD and some other pairs like BUSD/BNB. However, this step increases the chances for a large number of Ethereum investors to trade more frequently on Binance while getting ready for the upcoming Merge.
Robinhood is the platform that promoted the concept of zero-trading charges initially. After that, it became one of the causes behind the app’s capability to have a resilient share in the market. Binance is not considered to be the only crypto platform able to minimize the charges for the clients. Jack Mallers’ Strike is another example in this respect and has also absolutely terminated any charges while endeavoring to have more users onboard.
Moreover, when people utilize the application of Strike, the only fees seen by them are on the Bitcoin Lighting Network and even that is less than 1 cent. This strategy has also attracted the rest of the providers of wallets, after being compelled to either provide their services without any charges or provide more functionality. Several of the popular Bitcoin wallets are free and specifically made for public service instead of gaining profit.
The Approaching Merge Heightens the Ethereum Trading Volume
Nearly since the launch of Ethereum, the network has been contemplating a strategy to have an upgrade to ETH 2.0 as well as the consequential shift to Proof-of-Stake. Eventually, following several years of waiting, it seems that the moment has arrived. To prepare for the respective event, numerous traders are entering ETH. As a result, ETH’s trading volume has risen to a great extent in comparison with the rest of the industry players.
