Bitcoin on a $3,000 rebate on Binance.US, but there's a catch
Bitcoin is selling for just over $27,500 on Binance.US, a discount of almost $3,000 from the world spot prices.
= =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMtMDcvNTY5ODc4NmMtMjkxYS00ODJlLWJkMmMtZDhlZDViNGM2OTQwLmpwZw == .jpg 2x" src="https:// alt="B itco in on a $3,000 rebate on Binance.US, but there's a catch" class="lazy-image__img type:primaryImage"/> News Join us on social networksBitcoin (BTC) is selling at a discount of almost $3,000 on Binance.US, offering a significantly better rate than global spot prices - but there's just one catch.
On July 9, a group of crypto users began noticing a growing price gap between cryptocurrencies listed on the US crypto exchange and their global spot prices, with many calling it a "depeg" of crypto-currencies.
BTC The /USD charts on Binance.US show a current price of $27,536. Source: Binance.USBitcoin is currently trading at $27,536 on the exchange against the US dollar, which is approximately an 8.5% discount to global prices at USD cash of $30,106 at time of writing.
Other cryptocurrencies are also trading at a discount in US dollars. Ethereum prices are around $200 cheaper on Binance.US, trading at $1,695 at the time of writing. Some stablecoins, such as Tether (USDT), were also trading below their pegs with Tether at $0.915 on the exchange.
WOW. Bitcoin is trading at $26,970 on US binance versus $30,300 (actual price)
Ethereum is $200 lower than normal
USDT is at 0.889 cents pic.twitter.com/LgKeMEDZQv
— borovik.eth (@3orovik) July 9, 2023However, while crypto rebates seem attractive to an arbitrageur, the reality is that most investors will not be able to take advantage of them.
This is because the discount only applies when a cryptocurrency is exchanged for fiat USD on the crypto exchange.
The problem is that Binance.US users have not been able to deposit new USD on the platform since June 9,
Bitcoin is selling for just over $27,500 on Binance.US, a discount of almost $3,000 from the world spot prices.
= =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMtMDcvNTY5ODc4NmMtMjkxYS00ODJlLWJkMmMtZDhlZDViNGM2OTQwLmpwZw == .jpg 2x" src="https:// alt="B itco in on a $3,000 rebate on Binance.US, but there's a catch" class="lazy-image__img type:primaryImage"/> News Join us on social networksBitcoin (BTC) is selling at a discount of almost $3,000 on Binance.US, offering a significantly better rate than global spot prices - but there's just one catch.
On July 9, a group of crypto users began noticing a growing price gap between cryptocurrencies listed on the US crypto exchange and their global spot prices, with many calling it a "depeg" of crypto-currencies.
BTC The /USD charts on Binance.US show a current price of $27,536. Source: Binance.USBitcoin is currently trading at $27,536 on the exchange against the US dollar, which is approximately an 8.5% discount to global prices at USD cash of $30,106 at time of writing.
Other cryptocurrencies are also trading at a discount in US dollars. Ethereum prices are around $200 cheaper on Binance.US, trading at $1,695 at the time of writing. Some stablecoins, such as Tether (USDT), were also trading below their pegs with Tether at $0.915 on the exchange.
WOW. Bitcoin is trading at $26,970 on US binance versus $30,300 (actual price)
Ethereum is $200 lower than normal
USDT is at 0.889 cents pic.twitter.com/LgKeMEDZQv
— borovik.eth (@3orovik) July 9, 2023However, while crypto rebates seem attractive to an arbitrageur, the reality is that most investors will not be able to take advantage of them.
This is because the discount only applies when a cryptocurrency is exchanged for fiat USD on the crypto exchange.
The problem is that Binance.US users have not been able to deposit new USD on the platform since June 9,
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