Important Binance Announcements Impacting XRP and SOL Investors

TL;DR

• Binance will introduce commission-free trading for pairs such as XRP/FDUSD and SOL/FDUSD starting December 8th. However, they will be excluded from VIP tier volume calculations and liquidity provider programs during the promotional period.
• As Binance moves away from BUSD, its focus is on FDUSD, a stablecoin from First Digital Limited, with plans to stop supporting BUSD by December 31, 2023 and automatically convert remaining balances to FDUSD at a 1:1 ratio.
• Additionally, Binance plans to delist four cryptocurrencies on December 7th, including BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC), and some such as PERL and WTC. Cryptocurrencies are already experiencing significant price declines.

Binance’s Latest Products

The world’s largest cryptocurrency exchange by trading volume – Binance – presentation Users can take advantage of commission-free trading for the following pairs: XRP/FDUSD, SOL/FDUSD, DOGE/FDUSD, BNB/FDUSD, ETH/FDUSD, and LINK/FDUSD. The offering’s validity period begins December 8 and continues “until further notice.”

“All users will not be able to enjoy any maker and taker fees for the above spot and margin trading pairs. “Trading volumes of the above spot and margin trading pairs, if applicable, are excluded from VIP tier volume calculations and all liquidity provider programs during the promotional period,” the company explained.

FDUSD is a reserve-backed stablecoin issued by a subsidiary of First Digital Limited, a Hong Kong-based financial company. FDUSD was issued on the Ethereum and BNB chains. Binance paid particular attention to the token after revealing that it would step away from BUSD.

Last week at the market published We will discontinue support for BUSD products in mid-December, encouraging customers to withdraw their BUSD holdings or convert them to other assets.

All such transactions will be deactivated on December 31, 2023, and any remaining balances will automatically be converted to FDUSD at a 1:1 exchange rate. Binance users from Japan, France, Italy, Poland, and Kazakhstan are excluded from this revision.

Binance’s delisting efforts

The company too presentation We are planning to remove four cryptocurrencies from the platform on December 7th. Those coins are BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC).

Some of the affected assets have declined significantly since disclosure. PERL has fallen 60% over the past two weeks, while WTC has fallen more than 70%.