.binance’s decision to nix almost all zero-fee trading pairs will cost the exchange market share, Kaiko’s research director said. Keeping the promotion for BTC-TUSD signals tusdio’s rise as Binance’s favored stablecoin. sndr_krisztian writes
Tron Founder Justin Sun Sued by U.S. SEC on Securities, Market Manipulation Charges
The BTC-TUSD trading volume had recently grown tenfold compared to Tuesday, Dustin Teander, an analyst at crypto research firm Messari, said in an email. However, the asset pair’s $50 million spot trading volume in the past 24 hours is dwarfed by the dominant stablecoinMike van Rossum, founder of crypto trading firm Folkvang, said it’s still early to tell how much Binance wants to push TUSD as the “de facto standard” on its platform, adding that making trading free is a powerful tool.
“If people end up trusting TUSD – very uncertain right now – this zero fee promo can easily grow into the biggest market by volume,” he said. A Binance spokesperson said in an email that the exchange’s goal “right now is to identify a diverse set of stablecoin products to offer users, particularly products that are transparent, regulated, and have strong relationships with banking institutions in markets that support innovation.”
“TUSD is the first of what will hopefully be many new stablecoin products being offered to users," the spokesperson added.earlier this month as several U.S. banks with close ties to crypto firms were shut down by regulators after suffering a run on deposits.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Subscription for the Space ID (ID) Token Sale on Binance Launchpad Is Now Open | Binance SupportFellow Binancians, Subscription for the Space ID (ID) token sale on Binance Launchpad is now open and will remain open for three hours . Users can check their eligibility and commit their BNB to t...
Read more »
Binance Completes the Space ID Subscription Launchpad and Will Open Trading for ID | Binance SupportFellow Binancians, Binance has completed the subscription format Launchpad for Space ID and the final token allocation results are now showing on the Space ID Launchpad Page . A total of 103,598 p...
Read more »
Enjoy Zero Trading Fees & Gas Fee Rebates for Selected NFT Collections on Binance NFT! (2023-03-21) | Binance SupportFellow Binancians, Due to popular demand, Binance NFT Marketplace will be launching another zero-fee trading promotion for our NFT community. Promotion: Enjoy Zero Trading Fees \u0026amp; Gas Fee Reba...
Read more »
Join Binance Pay’s Crypto Red Packet Promotion & Get Up to 25 USDT in Rewards! | Binance SupportJoin Binance Pay’s Crypto Red Packet promotion and earn up to 25 $USDT in rewards! To participate: 🔸 Head to Binance Pay 🔸 Create Crypto Red Packets 🔸 Specify the amount that can be claimed (Max. 900) 🔸 Invite your friends to claim Get started ➡️
Read more »
Introducing Binance Oracle VRF: The Next Generation of Verifiable Randomness – Sponsored Bitcoin NewsMain Takeaways Binance Oracle VRF is a Verifiable Random Function (VRF) solution that enables blockchain developers to generate random numbers. Binance
Read more »