Binance.US, the American branch of Binance, has just reduced trading fees for over 20 cryptocurrency pairs, including Ethereum, Solana, BNB, and Cardano, amid a significant drop in trading volume. The exchange applies a maker fee of 0% and a taker fee of 0.01% without requiring sign up or minimum volume. Additionally, over 20 new pairs have been added to the “Tier 0” model, including BTC/USD, with similar fees.
This model launched in 2022 attracted significant trading, but since the SEC sued Binance in June 2023, Binance.US's market share on USD-supported exchanges has fallen from about 10% to just 0.2%. Although the SEC withdrew the lawsuit in May 2024, activity on the exchange remains nearly frozen.
The new fee reduction move is seen as an effort by Binance.US to regain market share in the American market, which is currently led by Coinbase and Kraken.
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