- The volume of trading in assets paired with the FDUSD stablecoin on Binance has started to grow.
- According to data from February 12, FDUSD trading pairs accounted for 38% of the total spot trading volume on the platform.
- This is an all-time record high.
The volume of trading assets in the FDUSD stablecoin pair on the Binance cryptocurrency exchange reached the maximum mark in history. According to data from February 12, 2024, this figure was 38% of the total spot trading volume on the platform. This is reported by The Block.
Experts suggested that Binance’s withdrawal of support for BUSD and the declining popularity of TUSD may have caused traders to switch to FDUSD.
“One would expect FDUSD to gain some popularity on Binance, given that BTC/FDUSD trading is free and most FDUSD pairs have no maker fees. The official discontinuation of BUSD support on the exchange probably also prompted some users to switch to the new stable coin,” said The Block analyst Rebecca Stevens.
Recall, earlier we reported that between August 4 and September 4, 2023, the capitalization of the FDUSD stablecoin increased by $135.3 million.
