The FDUSD stablecoin trading pair recorded its highest share of Binance spot trading volume ever.

The trading pair between the First Digital USD stablecoin (FDUSD) and Binance hit an all-time high in spot trading volume on the exchange.

Trading pairs containing FDUSD accounted for 38% of Binance’s total spot trading volume on February 12, according to The Block Pro Data Dashboard. This is a 42.6% increase compared to the previous month.

FDUSD pairs are shared on Binance spot trading. Image: Block Pro Data Dashboard

“Considering that BTC/FDUSD is free to trade and most FDUSD pairs have no maker fees, we can expect FDUSD to gain some popularity on Binance,” said Rebecca Stevens, senior research analyst at The Block. .

“The official end of BUSD support on exchanges may have prompted some users to switch to new stablecoins,” she added.

FD121, a subsidiary of First Digital, a Hong Kong-based custody and trust company, launched FDUSD in June 2023. Binance listed FDUSD a month later and offered free trading fees.

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