Binance Launches ETH/BUSD Zero-Fee Trading

Ahead of the Ethereum Merge, the Binance exchange announced zero-fee trading for the ETH/BUSD trading pair on Tuesday.

The much-anticipated Merge is set to happen around September 15, subject to technical changes. As the crypto market anticipates elevated interest in ETH in the coming days, Binance announced a fee on its stablecoin pair. In recent times, there has been huge activity around ETH trading as the market prepares for the event.

Zero Fee On Binance BUSD Ethereum Trading

In an announcement on Tuesday, the cryptocurrency exchange said there would not be any zero maker and taker fees on the pair. The zero-fee trading will be enabled nearly 20 days ahead of the Merge event. Binance will introduce zero-fee trading for the ETH/BUSD spot trading pair on August 26, it said in an official announcement.

“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 discounts, fee rebates or any other form of fee adjustments or fee promotions.”

Binance Launches ETH/BUSD Zero-Fee Trading

The Ethereum Merge will shift the network from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. Once completed, the PoS transition would help Ethereum increase scalability. Also, the cryptocurrency could turn out to be a deflationary asset post the Merge. This is due to the decrease in supply in the future as per the Ethereum burning process.

Demand For ETH

Alos, the asset’s price is expected to rise going forward in near future. Ethereum developer Vitalik Buterin predicted that ETH prices could rise around eight months after the Merge next month. In the last one month, ETH gained massively in price as traders anticipated demand for the asset as Merge approached. As of writing, Ethereum’s price stands at $1,628.49, up 3.90% in the last 24 hours, according to CoinMarketCap. However, the last week saw ETH drop by around 13%.

Source: Coingape

> Related: Invesco Unveils Multi-Million Dollar Metaverse Fund

Follow: