While Bitcoin (BTC) once again fell below the global market price on Binance.US, the US subsidiary of the world’s largest crypto exchange Binance, this time altcoins were negatively affected.
Bitcoin at global market price on Binance.US sharp in a way that separates US dollar (USD) against $26,829 up to the level declined. According to Coinecko data, Bitcoin is currently on Binance.US, about the size of the global market. $2,500 traded under.
Binance.US, in the past few weeks banking partners discontinued for reasons withdrawal and deposit of channels only withdrawals will be allowed way reactive had reported. However, the channels don’t stay open for long By emphasizing the possibility, users can make USD withdrawals. to hurry about had been warned.
Insufficient dollar liquidity
Price difference between Binance.US and the global marketheavy selling of users who want to get their money off the exchange by selling their holdings while USD withdrawal channels are still open took place on In contrast, the stock market The absence of any channel that can be used to deposit USD causes the buy side to become weak. caused by the reduction in Bitcoin price also made arbitrage opportunity impossible.
Altcoins Also Affected
Besides Bitcoin Ethereum (ETH), Tether (USDT), USD Coin (USDC), and BNB (BNB) users who want to withdraw their assets from the stock market as soon as possible. impressed by the massive sale. Ethereum is on Binance.US at the time of writing. $160 at a discount $1,709 Tether on sale $0.9 at a discount from $0.91BNB $22 at a discount from $222 and USDC $0.9 at a discount 0.91 from dollars is being traded.
All cryptocurrencies affected, including Bitcoin, averaged from the global market. 8% more Lower price The price difference experienced when trading with USD pairs Impressed.