- This price only lasted a few seconds
- The sudden jump only occurred on BTC/USDT
- There were no such anomalies on other trading pairs
On the morning of June 21, the U.S. cryptocurrency exchange Binance.US temporarily jumped to $138,000, almost 400% higher than on other platforms. At 6:50 a.m. GMT, the price suddenly jumped to these levels, but almost immediately returned to previous levels.
The Binance.US website indicates that 62.22 BTC were exchanged during this period, amounting to approximately $1.8 million.
This was due to a lack of liquidity. All available sell orders were immediately executed at market prices. Only minor “joke bids” remained, and this led to a sharp rise in the price to new historic highs.
It is not the first time such a situation has happened on Binance.US. At the beginning of May this year, the pair BTC/USD was trading at a difference of almost $650 to the price on Coinbase. And in June, the two major cryptocurrencies bitcoin and ether traded at deep discounts on the U.S. exchange. The BTC-USD trading pair jumped to the level of $28,800, which is $1,700 higher than the average price on other exchanges. ETH-USD traded at $1,932, while the ether price index was $1,840.
The ETH-USD traded at $1,932.