The major crypto exchange Binance has bucked the trend when it comes to trading volumes during the bear market, recording a sharp increase in volume on popular trading pairs even as crypto prices have plummeted.
The rise in trading volume on Binance has followed a move by the exchange to eliminate trading fees on some of its most popular bitcoin (BTC) and ethereum (ETH) pairs earlier this year, leading to a surge in activity on the platform. Binance first launched a zero-fee promotion on certain BTC pairs in July, before it followed up by also removing trading fees on popular ETH pairs in August this year.
According to Binance’s announcement from August, fees on ETH trading were removed “to ensure everyone has the opportunity to buy and sell ETH with minimum barriers to entry.”
As everyone who has been around the crypto market for a few years knows, trading volumes always fall during bear markets. And the longer the bear market lasts, the more volume can be expected to fall, as...
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