Continued arbitrage in Binance U.S. asset pricing: Bitcoin and USDT

Quick Take

Over the past few weeks, there have been noticeable discrepancies in the asset prices on Binance U.S. This issue has come to the forefront due to the abnormal trading rates of Bitcoin (BTC) and Tether (USDT), two of the major cryptocurrencies on the platform.

The current trading price of Bitcoin on Binance U.S. is $27,700. This price point is unusual and represents a significant discount when compared to other platforms. In contrast, Bitcoin is trading at its expected spot price on Coinbase, indicating a specific pricing issue with Binance U.S.

Simultaneously, the stablecoin Tether (USDT) is trading at an unusually low price on Binance U.S. Presently, USDT is valued at $0.92, which deviates from the norm. As a stablecoin, USDT is typically pegged to the U.S. dollar at a 1:1 ratio, meaning that one USDT should be equivalent to $1. This current rate indicates a considerable discount.

Comparatively, the pricing mechanism on Coinbase remains consistent with the expected spot prices for both Bitcoin and USDT. This reaffirms the anomaly of Binance U.S.’s current pricing structure.

The ongoing discrepancy in the pricing mechanism on Binance U.S. is causing concern within the cryptocurrency community and highlights the need for further investigation into the matter.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn Email James

Latest Insights

Bitcoin ETFs bring in over $6 billion in November after another $1 billion day

Data via 17 hours ago

Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone

17 hours ago

US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders

1 day ago

Latest Alpha Market Report

Available exclusively via

Polymarket: A revolution in prediction markets

Andjela Radmilac · 1 hour ago

CryptoSlate's latest report dives deep into Polymarket's evolution, its pivotal role in high-stakes prediction events like US elections, and the implications of its controversies on its market position.