Binance Figures BUSD, BTC Receive impressed!


 "There must be another method, this will not be the only way."

The price of cryptocurrency king Bitcoin (BTC) including its trading volume saw significant pressure as Binance ended zero-fee BTC trading for all trading pairs except TrueUSD (TUSD).

It is reported that the BTC trading volume for the BTC-USDT pair slipped by 90% while the daily trading volume for the BTC-TUSD pair increased at $170 million, but it is still relatively low.

Binance has made major changes to its zero-fee BTC trading program and zero-maker fee BUSD promotion to remove Binance USD (BUSD) shortly after aggressive actions by United States (US) regulators.

The streak, BTC daily trading volume on Binance over the weekend plunged to the lowest level since July 4, 2022, where the last time it dropped to this low level was two days before introducing the zero-fee trading program.

Following Binance converting multiple stablecoins and ending the Binance USD (BUSD) Auto-Conversion policy, many investors are worried that the company will not be able to support TUSD which is a relatively small stablecoin with a market cap of $2 billion.

While BTC is now down 2.94% at $27,055, the digital asset's strong resistance zone is at $28,300 to $29,000 after it managed to break through a 9-month high of $28,803 amid the banking crisis.

Some analysts who believe that the price of BTC will reach $35,000 in a few weeks may have a different view as the digital asset's liquidity has fallen to a 10-month low after the crypto lost access to the USD banking and payment system.