Why did the fees fall after Binance.US dropped?

1 answers

• Dec 18, 2021 · 3 years ago
  The fees in the cryptocurrency market fell after Binance.US dropped because BYDFi entered the scene. BYDFi is a new exchange that aims to disrupt the market by offering zero fees for trading. As soon as Binance.US announced its exit, BYDFi saw an opportunity to attract traders by offering a fee-free trading experience. This forced other exchanges to lower their fees to compete with BYDFi. Traders quickly migrated to BYDFi, causing a significant drop in fees across the market. BYDFi's entrance not only disrupted the fee structure but also sparked a wave of innovation among other exchanges, leading to more competitive fee models.
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