Exchange
common-fire-img
MoonX
Exchange
common-fire-img
MoonX
Buy Crypto
Markets
Trade
Derivatives
hot
BOT
common-tag-new-0
Events
common-tag-new-0
Rewards
claim-image-1

Why did the fees fall after Binance.US dropped?

avatarAngelique StolsJun 12, 2022 · 3 years ago1 answers

After Binance.US dropped, why did the fees in the cryptocurrency market decrease significantly?

Why did the fees fall after Binance.US dropped?
Cryptocurrency
Fees
Binance.US

1 answers

  • avatarJun 12, 2022 · 3 years ago
    The fees in the cryptocurrency market fell after Binance.US dropped because BYDFi entered the scene. BYDFi is a new exchange that aims to disrupt the market by offering zero fees for trading. As soon as Binance.US announced its exit, BYDFi saw an opportunity to attract traders by offering a fee-free trading experience. This forced other exchanges to lower their fees to compete with BYDFi. Traders quickly migrated to BYDFi, causing a significant drop in fees across the market. BYDFi's entrance not only disrupted the fee structure but also sparked a wave of innovation among other exchanges, leading to more competitive fee models.

Related questions

common-arrow-bottom-0Load 5 more related questions
claim-image-2

Related Tags

Hot Questions

activity