(MENAFN- EIN Presswire)
MoonXBT Extends Zero Fee Policy to Stable Coins For User Demand and Platform Liquidity
MoonXBT, the innovative crypto social trading platform has recently extended a zero fee policy to major stable coin trading pairs early in July.
SINGAPORE, August 9, 2022 /EINPresswire.com / -- Even though hopes about the crypto market rally start to kick in, it's still quite early to say the bear market has come to an end. But one of the silver linings is that many crypto exchanges are constantly releasing policies that users can benefit from.
MoonXBT , the innovative crypto social trading platform has recently extended a zero fee policy to major stable coin trading pairs including BUSD/USDT, USDC/USDT, and DAI/USDT after it eliminated the trading fees for BTC/USDT, ETH/USDT, BNB/USDT, ADA/USDT, and XRP/USDT early in July.
The policy took effect on August 3rd and will last till the end of this month. All users can enjoy zero fees for both maker and taker orders regarding the above-listed stable coin trading pairs without trading volume requirements or other pre-conditions.
During the implementation of Stable Coin Zero Fee policy, MoonXBT's point discounts, referral rebates, and other fee adjustments will not be applied to trading volume on stablecoin pairs during the promotion. Also, standard trading fees apply after the promotion ends.
According to MoonXBT, The zero fee policy extension to stable trading pairs is more catering to the users and the platform's needs during such a market situation.
In the asset class of crypto, stable coins are usually considered to be an alternative to hedge market volatility. Under an unstable market, many users choose to convert their tokens into stable coins to maintain value and sit out the bearish phase. In a sense, stable coins act as a safe haven for traders facing market volatility.
In addition, given the macroeconomic situation, stable coins in the crypto industry are also good investment options to hedge economic inflation. Especially in many emerging markets, stable coins have been proven to be more reliable than sovereign currencies. Users there have growing demand to hold stable coins to hedge not only the crypto market risk but also macroeconomic risks.
Moreover, in spite of the underperformance of the crypto market, the industries which are closely related to cryptos and token economy including DeFi, Web3.0, Metaverse, etc., are evolving day by day creating long-term demand for stable coins since most of the projects need stable coins to provide internal liquidity for its ecosystem. As promoted by many parties in both crypto media and social media platforms that it is a good time to“build” during bearish markets, it also motivates users to store more stable coins to prepare for the various new use cases in the future.
From the point of view of the exchange, it is also a win-win policy to incentivize users to trade stable coins for the sake of liquidity improvement. According to coinchange stablecoins now have a market capitalization of $154 billion in total which accounts for over 7% of the entire cryptocurrency market. However, stable coins contribute to more than 80% of the total trading volume across exchanges on average. This shows the leading role stable coins play in exchange liquidity which is a vital element affecting exchange service quality and user experience. Hence, including stable coin trading pairs in the zero fee zone can help the exchange to improve platform liquidity and guarantee continuous delivery of good trading services for the users.
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