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Bitcoin, Ethereum, USDT Trade At Discount On BinanceUS, Arbitrage Opportunity Or Trap?

People having USD at Binance.US takes arbitrage opportunity as Bitcoin, Ethereum, and USDT are available at huge discount.
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Bitcoin, Ethereum, USDT Trade At Discount On BinanceUS, Arbitrage Opportunity Or Trap?

Cryptocurrencies on Binance’s US-based crypto exchange Binance.US trade at a discount, what the crypto community calls a “crypto depeg”. Top cryptocurrencies Bitcoin and Ethereum are trading at $27,500 and $1700 respectively, a discount of $3000 and $200 from global spot prices.

Meanwhile, USDT remains depeg to USD at $0.91 following the US SEC lawsuit and USD deposits and withdrawals suspension. Other altcoins are also available at a discount on the crypto exchange.

BTC and ETH prices jumped 2% on Binance.US as traders move to take an arbitrage opportunity, which means buying at low prices and selling at higher prices on another exchange. While it seems a better arbitrage opportunity, it can only be used by people having USD on Binance.US as deposits remain suspended for nearly a month.

Also Read: Terra Luna Classic To Expedite Community-Owned Station Wallet Infrastructure, LUNC Jumps

The crypto community has raised concerns over the future of Binance.US as most executives are exiting the crypto exchange.

Veteran trader Peter Brandt also noted the USDT depeg on Binance.US, blaming Binance CEO “CZ” and referring to it as the “scam of the decade.” He said the same exchange approved BTC sell orders at $8000 when it was trading at $60,000 on other crypto exchanges. He believes the community needs to question CZ about this.

Adam Cochran also warned the community about trading on Binance.US and criticized Binance CEO “CZ” for market uncertainty as the US DOJ prepares to bring action against the exchange.

“All you Binance simps that believe CZ is a god who would never let you down, can deposit into Binance US and get cheap coins any time you want.”

In addition, the crypto market currently facing liquidity issues with investors continuing to hold and balance on exchanges hit lows. Global exchanges such as Binance and Coinbase are using several strategies and promotions to increase liquidity in the market. The last date for USD withdrawals on Binance.US is July 20.

Also Read: Shiba Inu Layer-2 Shibarium Release Fuels BONE Price 35% Rally, Eyes $3 In Weeks

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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