Binance Waives ETH/BUSD Trading Fees Ahead of The Merge

The world’s leading cryptocurrency exchange, Binance, has announced it will waive trading fees for Ethereum (ETH) in preparation for The Merge upgrade.

Binance Waives ETH/BUSD Trading Fees in Anticipation of The Merge

On the evening of August 23rd, Binance announced it will offer zero trading fees for the ETH/BUSD spot trading pair starting from 7:00 AM on August 26, 2022, until 7:00 AM on September 26, 2022 (Vietnam time).

During this promotional period, other incentives for the ETH/BUSD trading pair will not apply, but they will resume once the fee-free promotion ends.

Binance also mentioned that it reserves the right to exclude trades deemed as wash trading or any transactions suspected of market manipulation.

Over a month ago, Binance had already introduced zero trading fees for 13 BTC trading pairs, with no end date announced for that promotion.

The one-month fee waiver for ETH/BUSD raises questions, as it coincides with The Merge upgrade, expected around September 15-16. Binance’s limited promotion period could be seen as a strategy to attract Ethereum investors during this upgrade. Following Ethereum’s transition to Proof-of-Stake, Binance might end this offer, given that Ethereum remains a direct competitor to BNB Chain.

Like other exchanges such as Poloniex, Huobi, MEXC, KuCoin, FTX, and Coinbase, Binance has declared its support for Ethereum’s Proof-of-Stake chain. However, it reserves the right to support any forked chains that maintain the Proof-of-Work mechanism.

ETH/USDT 4H Chart on Binance as of 10:40 PM on August 23, 2022

As of the time of writing, ETH is trading around $1,640 and is still recovering from its drop from $2,000 to $1,523 last week.