Binanceannounced that it is suspending its commission-free trading program with BTC, excluding the BTC/TUSD trading pair. This move caused the TRU price to increase by almost 30% in just one hour.
Binance CEO Changpeng Zhao, TrueFishould not be associated with TUSD tweeted. This tweet quickly caused the TRU price to drop
TRU should not be related to TUSD.
— CZ 🔶 Binance (@cz_binance) March 15, 2023
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It should be noted that this decision taken by Binance is very important. The exchange previously offered free trading for BTC with 13 spot pairs. While this move increased the trading volumes on the platform, it also came under criticism. However, Binance stated that Bitcoin trading will still have zero fees on the platform, but will only be available for the BTC/TUSD trading pair starting March 22 at 00:00 UTC.
Koinfinans.com As we have reported, this move of Binance is an important indicator that the stock market has shifted towards stablecoin TUSD after its relationship with BUSD was cut off due to problems with the US government. The exchange previously issued a large amount of TUSD stablecoins and included them in many trading pairs on the platform.
The price of TRU, a lending protocol from TrueFi, also rose significantly after this move, although in reality the project is not directly linked to TUSD. only before TrueFi Protocol one of the products below.
TRU price Just one hour after the announcement by the stock market, it experienced a sharp increase. Currently TRU is trading at around $0.11, which indicates a 165% increase in value over the past 30 days.
The decision had a significant impact on the price of TRU, causing many investors to wonder what other changes might be for Binance in the future.
You can follow the current price action here.