• May 18, 2024

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Bitcoin Spot Trading Experiences Decline Following Binance’s Decision to Reitronduce Fees

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Binance’s decision to reintroduce transaction fees resulted in a huge decrease in Bitcoin spot trading.

According to The Block Research, the number of transactions on the platform plummeted by 65% in April.

Market makers and traders, whose strategies are based on transaction fees, were particularly affected by this development.

Although Bitcoin managed to partially recover this week, dropping below $28,000, it will only be able to return to the $30,000 mark, or even surpass it, if the $28,000 level is established as a solid support zone.