Binance announced zero-fee ETH trading

The world’s largest crypto exchange Binance has announced zero-fee trading for the ETH/BUSD spot trading pair. The new rules will come into effect from August 26. The promotion will last until September 26.

In connection with the upcoming Ethereum’s “merge”, Binance expects an increase in interest in this cryptocurrency from both beginners and experienced users. The exchange aims to provide its clients with favourable terms for the ETH/BUSD spot trading.

This decision may be subject to falling prices for crypto. This way the company will be able to save its old clients and attract new users.

Earlier, the exchange has already introduced zero Bitcoin trading fees. The fees were dropped in order to celebrate the company’s fifth anniversary.

Binance U.S. also introduced zero Bitcoin trading fees with the US dollar and such stablecoins as Tether (USDT), USD Coin (USDC) and Binance USD (BUSD). This decision may force other crypto exchanges to lower fees.

Despite the crypto market’s difficult situation, Binance CEO Changpeng Zhao said that he plans to hire new employees. Other crypto exchanges and platforms, such as Coinbase, Crypto.com Gemini and OpenSea are cutting staff to maintain profitability and optimise work.

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