• Bitcoin’s spot volume on Binance dropped by 57% between 1 and 20 September.
• While the BTC/TUSD fee changed, Bitcoin may not experience any notable selling pressure.

Bitcoin’s [BTC] spot volume hit a 35-month-low after it fell another 8% in the last seven days, according to K33 Research. When measuring spot volumes for any asset, the right place to look at is the exchanges. This is because they are the ones who provide trading pairs on the spot market.

How much are 1,10,100 BTCs worth today?

Binance pushes Bitcoin’s drop

One cogent reason the king coin’s volume decreased was the seven-day spot volume on Binance, which fell by 57% since September began.

For the most part, the decrease could be linked to the regulatory battles that Binance seemed to be fighting. However, that was not the case, as a certain decision appeared to be the driving force behind the plunge.

On 7 September, Binance took an unexpected decision to change the fees accustomed to the BTC/TUSD pair. According to the exchange, the taker fee on the pair changed from zero to rate based on the VIP level any user was.

As a result of the decision, the BTC/TUSD volu

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Author: Victor Olanrewaju

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