Crypto News- Binance, the world’s largest cryptocurrency exchange, made a significant announcement on Wednesday, unveiling plans for new spot trading pairs and the introduction of Trading Bots services for selected crypto pairs. The exchange is set to initiate zero-fee trading for popular cryptocurrencies such as Shiba Inu (SHIB), Injective (INJ), and The Sandbox (SAND), among others. The crypto community’s response to this announcement is yet to be seen.
Binance Revolutionizes Trading: Zero Fee Offerings
In an official statement on December 13, Binance declared its intention to introduce zero-fee trading for three FDUSD spot pairs. Commencing on December 14 at 08:00 UTC, Binance users will benefit from zero maker fees for SHIB/FDUSD, INJ/FDUSD, and SAND/FDUSD pairs.
Binance Unleashes Zero Fee Trading for SHIB, INJ, SAND, along with the Introduction of Fresh Crypto Pairings
Adding to the excitement, Binance will also launch trading for new spot pairs, including FIDA/TRY, IOTA/TRY, and MEME/ETH, also starting on December 14 at 08:00 UTC. The introduction of these pairs against the Turkish lira (TRY) comes in response to the significant trading volumes observed amid escalating inflation in the country.
Moreover, Binance is set to enable Trading Bots services for selected trading pairs, namely BLUR/USDT, JTO/USDT, and VANRY/USDT. Users can activate Spot Grid, Spot DCA, and Rebalancing Bot for the mentioned pairs, beginning at 08:00 UTC on December 14.
Market Reaction and Token Performance
Following the announcement, the market experienced a 1% surge in SHIB’s price within an hour, although it remains down by 4% over the past 24 hours, currently trading at $0.00000934. INJ and SAND are also trading more than 6% lower at $24.43 and $0.48, respectively. Despite recent rallies – with INJ witnessing a 40% surge in a week and SAND gaining 10% – these tokens are facing declines as traders await the Federal Reserve’s rate decision.
Binance Listing Impact
Binance’s listing support has historically provided a significant boost to crypto projects, creating positive momentum for associated tokens. Notably, on December 5, Binance introduced zero-fee trading for cryptocurrencies like Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK).
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