• Bitcoin and Ethereum are currently being offered at a discount on Binance.US
• However, not all users can take advantage of the opportunity due to suspended USD deposits on the platform
• In late May, an Australian branch of Binance saw a similar price anomaly due to its third-party payments provider termination
Discounted Bitcoin & Ethereum
Bitcoin and Ethereum are trading at an enticing discount on Binance.US. At nearly $27,500, Bitcoin is trading about $2,500 lower than global spot markets whereas Ethereum was trading at $1,700 – a discount of $200.
Limited Accessibility
Crypto users have raised concerns regarding this situation as it may lead to “depeg” of cryptocurrencies from their global spot prices. Unfortunately, discounted cryptocurrencies can only be purchased via USD holdings which is not possible due to Binance.US suspending USD deposits into the platform on June 9th. This essentially leaves only those users with USD already sitting on the exchange to grab the arbitrage opportunity.
Previous Occurrence
In late May, another instance of price anomaly was observed in one of Binance’s platforms – Australian branch where Bitcoin’s price drastically declined compared to global spot prices due to its third-party payments provider termination by the company.
Conclusion
Binance has been offering attractive discounts on various crypto assets but these opportunities are limited for now due to suspensions and terminations in place. Although some customers were able to leverage these discounts thanks to existing funds on their accounts, general access remains restricted for now until further notice from Binance itself.
Takeaway
Despite the limitations caused by suspensions and terminations by third-party providers, there may still be chances for customers who already have funds deposited in their accounts before such restrictions were imposed so they can still benefit from appealing discounts available through Binance platforms across different countries and regions.