Binance recently concluded its "zero trading fee" promotion for several pairs at the end of April, marking a significant shift in its spot fee tiering strategy. Among these changes, Binance notably ceased offering free trading for FDUSD pairs, a move that had initially propelled the stablecoin into the spotlight as a prominent trading asset on the platform.

Initially, Binance relisted FDUSD to replace BUSD after the latter was delisted in favor of Binance's proprietary stablecoin. To stimulate interest in FDUSD, pairs featuring it as the quote asset were introduced with favorable fee rates, most notably making BTC/FDUSD trades completely fee-free. This strategic move made BTC/FDUSD the sole avenue for free bitcoin trading on Binance, significantly boosting the stablecoin's visibility and trading activity.

In December, Binance extended the zero trading fee promotion to several major FDUSD pairs, further solidifying its position on the exchange. By April, FDUSD pairs accounted for over 35% of spot trading volume, surpassing the peak previously set by TUSD, Binance's earlier successor attempt to BUSD, which had captured 39% of volume back in December 2022.

However, the cessation of the zero fee promotion on April 25 affected FDUSD's dominance, albeit moderately. Despite the end of the promotion, FDUSD continues to maintain a notable presence, projected to constitute approximately 33.55% of spot trading volume in June.

BTC/FDUSD remains particularly resilient, with recent trading volumes indicating strong activity—$4.5 billion in the past 24 hours, compared to BTC/USDT's $2.5 billion and BTC/TUSD's $9.6 million. Nonetheless, for other spot assets, pairs with USDT as the base or quote currency continue to dominate.

While trading in many FDUSD pairs still offers a slight advantage due to the absence of maker fees, the allure has diminished following the fee adjustment. USDT, being the larger and more established stablecoin, retains preference among traders, even without additional incentives.

Looking ahead, USDT pairs might face regulatory pressures in the EU as Binance navigates compliance with the Markets in Crypto-Assets Regulation (MiCA). However, the exact impact on Binance's overall trading volume from the European market remains uncertain.

Despite the conclusion of the free trading promotion, FDUSD's resilience underscores its established presence in Binance's ecosystem, highlighting its enduring appeal and utility among cryptocurrency traders on the platform.