2023-04-19
Bitcoin traders on Binance have quickly shifted to TUSD after the exchange stopped collecting trading fees in that pair, causing the BTC/TUSD volume to exceed 50% of Binance's Bitcoin trading share and surpassing BTC/USDT.
Ref: Kaiko on Twitter
According
to Kaiko's analysis, BTC/TUSD has become the largest Bitcoin market on Binance,
surpassing BTC/USDT last week.
At the end
of March, Binance added new TUSD trading pairs including LDO/TUSD, MATIC/TUSD,
OP/TUSD, SOL/TUSD, SSV/TUSD, and XRP/TUSD. In addition, TUSD became the only
stablecoin with zero fees for BTC trading on Binance since March 22, which led
to an increase in the BTC/TUSD volume and outpacing other Bitcoin pairs on the
exchange.
However, the 24-hour trading volume of TrueUSD on April 17 was only $226 million, while the daily volume of USDT was higher than other digital currencies at $31.5 billion.
