quick take
Over the past few weeks, we have seen a notable divergence in asset prices on Binance US. The issue has come to the forefront due to the unusual trading rates of Bitcoin (BTC) and Tether (USDT), the two major cryptocurrencies on the platform. .
The current trading price of Bitcoin on Binance US is $27,700. This price range is exceptional and offers a significant discount when compared to other platforms. Bitcoin, by contrast, is trading at the expected spot price on Coinbase, indicating a pricing problem specific to Binance US.
At the same time, the stablecoin Tether (USDT) is trading at an unusually low price on Binance US. USDT is currently valued at $0.92, deviating from the norm. As a stablecoin, USDT is usually pegged to the US dollar at a 1:1 ratio, meaning 1 USDT equals 1 dollar. This current rate represents a significant discount.
Comparatively, Coinbase’s pricing mechanism is in line with the expected spot price of both Bitcoin and USDT. This reaffirms the anomaly of Binance US’s current price structure.
Continued discrepancies in Binance US pricing mechanisms have raised concerns within the cryptocurrency community, highlighting the need for further investigation into the matter.
The post Binance Continuing Arbitrage in US Asset Pricing: Bitcoin and USDT appeared first on CryptoSlate.
