Discount Bitcoin, Ethereum on Binance.US – But Not for Everyone!

• Bitcoin and Ethereum are trading at an enticing discount on Binance.US, but not all users can benefit from it.
• The discounts could be attributed to the departure of market makers from the exchange.
• Binance.US suspended USD deposits into the platform in June, which left only those users with USD already sitting on the exchange to take advantage of the arbitrage opportunity.

Discounted Cryptocurrency Trading on Binance

Binance US is offering discounted prices for Bitcoin (BTC) and Ethereum (ETH), however, these discounts are not available to all crypto traders. This indicates that there has been a drop in market maker activity due to their departure from the exchange.

Limitations of Discounted Prices

The discounted prices for BTC and ETH are only available for those holding US dollars within their accounts on Binance US and cannot be purchased using other currencies or payment methods. As a result, this effectively limits access to this arbitrage opportunity as Binance US suspended USD deposits into its platform back in June of this year.

Similar Situation in Australia

A similar situation occurred back in May when the Australian branch of Binance experienced a substantial decline in Bitcoin’s spot price compared to global markets after they had terminated fiat on- and off-ramps provided by their third-party payments provider.

Twitter Reactions

Crypto users took to Twitter to express their concerns over this “depeg” of cryptocurrencies amid worries about its implications for global spot prices.

Conclusion

In conclusion, discounted cryptocurrency trading on Binance US may offer an attractive arbitrage opportunity; however, only those users with USD holdings already present on the platform will be able to benefit from it due to restrictions imposed by the company’s policies regarding deposits and withdrawals made via fiat currencies such as USD