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Binance’s Zero-Fee Trading Adventure Unraveled: A Closer Look

Published 01/08/2023, 11:12
Updated 01/08/2023, 13:15
Binance’s Zero-Fee Trading Adventure Unraveled: A Closer Look

  • Binance’s zero-fee trading expansion led to a surge in trade volumes with the introduction of BTC zero-fee trading in July 2022.

  • Despite gaining market dominance, Binance faced potential revenue challenges, as revealed by Kaiko data.

  • Binance’s market share reached an all-time high of around 70% until the zero fee trading ended in March 2023.

Over the past year, Binance, one of the leading cryptocurrency exchanges, implemented a significant expansion of its zero-fee trading promotions, covering 13 BTC pairs. The move resulted in an immediate boost in trade volumes, with the introduction of BTC zero-fee trading in July 2022 leading to all-time high trading activity, according to Kaiko’s recent report.

However, data from the smart data research platform Kaiko suggests that while these promotions aided Binance in gaining market dominance, they also came with potential revenue challenges. Zero-fee trading volumes experienced a decline, indicating possible revenue implications during this period.

The post Binance’s Zero-Fee Trading Adventure Unraveled: A Closer Look appeared first on Coin Edition.

The post Binance’s Zero-Fee Trading Adventure Unraveled: A Closer Look appeared first on Coin Edition.

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