Bitcoin is trading at “heavily discounted” on Binance.US, Kaiko says, offering significant arbitrage opportunities for traders data.

Binance US Bitcoin Premium
Source: Silkworm

data Cryptocompare results confirm the above. The flagship digital asset is trading at $29,523 on Binance.US, which is $500 lower than major rivals such as Coinbase, Kraken and BitStamp.

On the other hand, it should be noted that this discount only exists for assets paired with USD, as assets paired with stablecoins such as USDT and USDC trade at regular prices. data From Coin Gecko.

Binance US trading pairs
Source: Coin Gecko

Binance.US has been facing serious USD liquidity issues since its partner banks decided to suspend payment channels. This has resulted in the outflow of fiat currency from platforms as they transition to “crypto-only” exchanges.

Bitcoin price fluctuates on Binance.US

Since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the exchange on June 5, Binance.US has experienced price volatility for BTC trading on its platform.

Kaiko reported that BTC traded at a premium of 2.5% on exchanges from June 6-8 due to market illiquidity.

BTC traded at a 1% premium on Binance.US on June 12, after the exchange’s market depth fell by 78% within a week of the US SEC lawsuit.

Moreover, BTC Flash climbed above $138,000 during the first half of trading hours on June 21, according to exchange data.

Binance Regulatory Issues

Binance.US Issues Related To Parent Company Binance Faces Lawsuits From Both US SEC And CFTC

However, these challenges are not limited to the US, which has pulled out of three European markets, including the UK, the Netherlands and Cyprus, within the past week.

Additionally, the exchange was forced to issue a cease and desist order against an unrelated fraud group, Binance Nigeria Limited, which was declared illegal by the Nigerian Securities and Exchange Commission.

An article about Bitcoin trading at a $500 discount on Binance.US amid the liquidity crisis first appeared on CryptoSlate.

By Jules

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