- Bitcoin momentarily dropped to $26,000 and USDT to $0.8
- Tether company denies rumors of unbundling
- This is far from the first case of abnormal prices on the exchange
- But there is a nuance
The problems on the U.S. cryptocurrency exchange Binance.US continue. At the weekend and today, there is a significant difference in the prices of BTC and USDT compared to other exchanges. Bitcoin price at the moment was at $26,970, which is below the real $30,300. And the value of the stabelcoin USDT fell to a maximum of $0.889. The decoupling can also be seen in Ethereum, which trades $200 lower.
Prices on Binance.US as of this writing:
Despite this price difference, however, most investors will not benefit from the discounts because there is no arbitrage option. The reason is that the discount is only available in pairs to the U.S. dollar.
And Binance.US users have not been able to deposit new funds on the platform since June 9. This means that discounted traded cryptocurrencies can only be bought with the funds that were already in the account before the suspension.
This is far from the first time coins have traded with a difference on a U.S. cryptocurrency exchange. Back in May, BTC was trading at nearly $650 on Binance.US. At the beginning of June, there was a price premium of almost 6% for BTC-USD.
At the end of last month, bitcoin temporarily jumped to $138,000, almost 400% higher than on other platforms, but almost immediately returned to previous values.