Binance waives ETH/BUSD trading fees to prepare for The Merge
The world's leading cryptocurrency exchange Binance suddenly announced that it will be offering free trading for Ethereum (ETH) during the period leading up to The Merge upgrade.
On the evening of August 23, Binance announced that it will be free of charge for the ETH/BUSD spot trading pair starting from 7:00 am on August 26, 2022 to 7:00 am on September 26, 2022 ( Hourly Vietnam).
Accordingly, other offers for this trading pair will not be applied for the next one month and will continue when this trading fee program ends. <3
Over a month ago, Binance also made the move to waive trading fees for 13 BTC spot trading pairs and has not set an end time for this promotion.
However, the fact that the exchange imposes a free time for ETH/BUSD transactions for only 1 month also raises some question marks, saying that this is just a measure to "stimulate" Ethereum investors in the context of raising demand. The Merge level will also take place during that time, expected around September 15-16. After Ethereum moves to Proof-of-Stake, Binance will terminate the offer as Ethereum is still a direct competitor of BNB Chain after all.
Similar to other exchanges such as Poloniex, Huobi, MEXC, KuCoin, FTX, Coinbase, etc. Binance claims to support Ethereum Proof-of-Stake chain, but reserves the right to support other forked chains. to maintain the Proof-of-Work mechanism.
See also:
- Binance's stance on The Merge and the possibility of Ethereum forkAt the time of writing, ETH price is at around $1,640 and still in the process recovering from the crash from $2,000 to $1,523 last week.
Crypto Fox News Summary
Aug 23, 2022
