Bitcoin is traded at around $27,500 on Binance.US, reflecting a massive $3,000 markdown compared to international market rates.
Presently, Bitcoin is trading at $27,536 against the U.S. dollar on Binance.US, marking an 8.5% discount from the global spot USD prices, which currently sit at $30,106.
It’s not just Bitcoin that is experiencing a price reduction on Binance.US. Ethereum, the second-largest cryptocurrency by market capitalization, is also available at a discounted rate. Trading at $1,695 on the exchange, it is approximately $200 cheaper compared to global spot prices.
Additionally, some stablecoins, such as USDT, are trading below their pegs with Tether, with prices as low as $0.915.
Source: Binance.US
Although these discounts appear enticing for arbitrage opportunities, the majority of investors won’t be able to benefit from them.
The discounted prices are only applicable when trading cryptocurrencies against fiat USD on the Binance.US platform.
One of the primary factors preventing investors from capitalizing on the discounted prices is the temporary suspension of USD deposits on Binance.US since June 9. Consequently, only those who had USD in their accounts prior to the suspension can purchase the discounted cryptocurrencies.
According to a circulated email from Binance.US to its customers, the platform has announced that the last day for USD withdrawals will be on July 20. This impending deadline has intensified concerns and prompted users to take action.
Final Words
Bitcoin and other cryptocurrencies are currently available at a significant discount on Binance.US. However, due to restrictions on USD deposits and the anticipated halt of USD withdrawals, only a limited number of investors can take advantage of these favorable rates. Traders must consider these factors when deciding on their investment strategies and take appropriate actions before the withdrawal deadline on July 20.
