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.
