The market celebrated Bitcoin’s recent high of $42,000, and many bears were in awe of this unexpected move. But the biggest story of this bull market is expected to be the upcoming Bitcoin ETF.
However, Binance has been delivering some good news lately, and the biggest one is for cryptocurrency traders.
Binance just made some big announcements that will directly impact many cryptocurrency traders. That means introducing commission-free trading for many major coin pairs against the FDUSD stablecoin, while also delisting older, lower-volume altcoins.
Here are the key details you need to know:
First, Binance now offers commission-free trading for 6 pairs.
- Ripple/FDUSD
- SOL/FDUSD
- DOJI/FDUSD
- BNB/FDUSD
- ETH/FDUSD
- LINK/FDUSD.
This means that there are absolutely no fees to trade these pairs, regardless of whether you are a maker or a taker. The commission-free promotion begins on December 8, 2023 and no end date for this promotion has been announced.
So why do you need FDUSD?
FDUSD is a new Ethereum and BNB chain-based stablecoin from Hong Kong financial company First Digital. Binance is moving away from the popular BUSD stablecoin and will automatically convert all remaining BUSD balances to FDUSD at a 1:1 ratio by December 31st. So, the writing is on the wall that FDUSD will be Binance’s stablecoin.
If you would like to learn more about FDUSD, you can check out the white paper here.
Personally, I think this is a great opportunity for traders involved in grid bot trading or high-frequency trading to take advantage of the commission-free offer. Since market volatility is high and the bulls appear to be under control, I will strategically enter into a few grid-bot trades to make the most of this offer. No commissions mean you can profit more from your trades.
Learn about grid bot trading here.
Several delistings –
Meanwhile, Binance announced on December 7 that it would delist BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC). In particular, PERL and WTC have already plummeted 60-70% in the past few weeks in response to the news of the Binance delisting.
Therefore, if you still hold positions in these cryptocurrencies, please take action before they are delisted. Delisted assets quickly become illiquid and generally worthless, as we have seen in the past.
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About Harsh Agrawal:
Award-winning blogger with over 15 years of experience. He has a background in finance and technology and holds a bachelor’s degree in information technology and engineering.
He is an international speaker and author who believes in the future of blockchain and its application in the cryptocurrency world.
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expertise:
Harsh has over 15 years of experience in fintech and 7 years of experience in blockchain and Bitcoin. He has also moderated blockchain expert panels and attended international blockchain events such as BTCMiami, Mainnet Messari, and Token2049.
