Prior to the Ethereum merger, Binance announced fee-free trading for the ETH and BUSD trading pair. The highly anticipated merger is expected to take place around September 15, subject to technical changes. As the crypto market anticipates increased interest in ETH in the coming days, Binance has announced a fee on its stablecoin pair. There has been a huge amount of activity around ETH trading lately as the market prepares for the event.
Zero fees on Binance BUSD Ethereum trading
In an announcement on Tuesday, the cryptocurrency exchange said there would be zero maker and taker fees on the pair. Free trading will be activated almost 20 days before the Merge event. Binance will introduce fee-free trading for the ETH/BUSD spot trading pair to August 26, he said in an official announcement.
“All users will benefit from zero maker and taker fees for the ETH/BUSD spot trading pair. The ETH/BUSD spot trading pair will be excluded from BNB fee rebates, fee rebates, or any other form of fee adjustments or fee promotions.
The Ethereum merger will shift the network from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. Once complete, the PoS transition would help Ethereum increase scalability. Also, the cryptocurrency might turn out to be a deflationary asset after the merger. This is due to the decrease in supply in the future according to the Ethereum burning process.
Request for ETH
Moreover, the price of the asset is expected to increase in the near future. Ethereum developer Vitalik Buterin predicted that ETH prices could rise around eight months after the merger next month. Over the past month, the price of ETH has risen significantly as traders anticipated demand for the asset as Merge approached. At the time of writing, Ethereum price stands at $1,628.49, up 3.90% in the past 24 hours, according to CoinMarketCap. However, the last week has seen ETH drop around 13%.
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