Binance raises crypto withdrawal costs in response to Tron

Binance raises its cryptocurrency withdrawal costs in response to Tron Network’s up

All well-known cryptocurrencies now cost more to withdraw from the Tron Network. As a result, Binance, the biggest cryptocurrency exchange in the world, is changing withdrawal fees.

Increased withdrawal fees on Binance

Binance decided to raise the withdrawal fee in reaction to Proposal 83, which sought the Tron community’s consent to change the energy charge models for smart contracts from static to dynamic.

The withdrawal fee for stablecoins like USDT, USDC, and TUSD is 2.6 percent, which has more than quadrupled. The BUSD stablecoin withdrawal fee has been increased from 0.8 BUSD to 2.2 BUSD.

At #TRON, we are dedicated to building a network that is cheap, fast, and secure. Following the recent change in energy charging model to the dynamic energy model, @Binance adjusted the withdrawal fees on the #TRON network.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 11, 2023

 

The dynamic energy model, also known as TIP-491, has been presented by the community to modify the contract’s future energy consumption in light of the contract’s actual energy use.

 

Would this impact trading and on-chain activities on the Tron Network?

 

Crypto Twitter is disappointed that Tron is straying from its intended course of eliminating fees and simplifying things.

At $0.06308, TRX’s price has decreased by more than 3% during the past 24 hours.

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This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.