Price discrepancy at Bitcoin: Binance.US dealer observe a discount of $ 3,000 compared to global spot prices

Price discrepancy at Bitcoin: Binance.US dealer observe a discount of $ 3,000 compared to global spot prices

Title: Cryptocurrency trade on Binance.Us - Falling courses from Bitcoin and Ethereum cause a stir

Introduction:
The cryptocurrency market again shows an interesting price discrepancy, this time on the American crypto exchange Binance.Us. Users have noticed that Bitcoin and Ethereum are traded at lower prices than on other platforms, which leads to speculation via a possibly decoupled trading volume. As a result, the lower evaluation of BTC and other cryptocurrencies attracts the attention of investors.

price fluctuations compared to global spot prices:
On binance. Us is currently trading at a price of just over $ 27,500. This means a price discrepancy of almost $ 3,000 compared to the global spot prices. Ethereum is traded on the same platform at an $ 200 lower price and is currently trading at $ 1,695. Even stable coins like USDT are traded with a price of $ 0.915, which is below their attachment price.

Commercial restrictions on Binance.us:
It is important to note that the reduced prices only apply to the trade of cryptocurrencies against Fiat USD on the platform. Since June 9th, users of Binance.us have not been able to deposit new US dollars to their accounts. This means that only existing USD credit can be used to buy cryptocurrencies at discounted prices. There are also concerns that Binance. Us could soon stop the USD withdrawals, which causes users to sell their cryptocurrencies at lower prices to convert their positions into USD and leave the platform.

Similarity to the Australian branch of Binance:
The current incident on Binance. Us is reminiscent of an earlier incident in the Australian branch of Binance. There, the price of Bitcoin fell by 20% compared to the global spot prices when trading in the Australian dollar. An email spread on Twitter informed the Binance. Us customers that the last day for USD withdrawals will be July 20, which illustrates the similarities between the two cases.

FAZIT:
The price discrepancy on Binance .us causes a sensation among crypto users. The reduced price of Bitcoin and Ethereum compared to global spot prices raises questions about trade integrity. The commercial restrictions and the possible setting of USD withdrawals increase the concerns of the users. It remains to be seen how this situation will develop and whether further steps are taken on the part of the platform to restore the trust of the users.