Cryptocurrency NewsOpportunity Knocks: Bitcoin Discounted by $3,000, Grab it Now!

Opportunity Knocks: Bitcoin Discounted by $3,000, Grab it Now!

Currently, the trading price of Bitcoin on the exchange against the U.S. dollar is $27,536, which represents roughly an 8.5% reduction compared to the global spot USD prices of $30,106 at the time of this statement.

In addition, various other cryptocurrencies are experiencing lower prices. For instance, Ethereum is trading at a discount of approximately $200 on Binance.US, with its price being $1,695 at the time of writing.

Although the discounted prices of cryptocurrencies may seem attractive to arbitragers, the reality is that most investors will be unable to capitalize on them.

This limitation arises because the discount is applicable solely when trading a cryptocurrency against fiat USD on the crypto exchange. Unfortunately, Binance.US users have been unable to deposit new USD into the platform since June 9, when the service was suspended. Consequently, the discounted cryptocurrencies can only be purchased using any USD already present in the account before the suspensions were implemented.

Worries that Binance.US may soon halt USD withdrawals have prompted some users to trade their cryptocurrencies at prices below the market value, as they seek to exit their positions in USD.

As per an email from Binance.US to its customers, which has been circulated on Twitter, the final day for USD withdrawals is set to be July 20.


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