As global cryptocurrency exchange Binance recovers from several Bitcoin (BTC) withdrawal stops, its US arm Binance.US is selling BTC at overprice.
The Bitcoin price on Binance.US is $700 more expensive than the cryptocurrency’s market price on May 9. At the time of writing, or around 1:30 a.m. UTC, Bitcoin was trading at $28,393, according to data from the Binance.US Bitcoin page.
According to data from CoinGecko and CoinMarketCap, Bitcoin’s current market price stands at $27,722, which is about 2% less than the Bitcoin price quoted on Binance.US.
Bitcoin’s highest intraday price on Binance.US was $28,600, while its highest intraday market price was $28,004.. Meanwhile, Bitcoin’s intraday lows ranged from $27,350 to $27,669 on Binance.US.
Bitcoin’s rise on Binance.US comes shortly after major global exchange Binance suffered major withdrawal issues on May 7.
The exchange was forced to shut down withdrawals at a time when Bitcoin was facing unusual mempool congestion, with over 400,000 transactions stuck on the Bitcoin blockchain.. Apparently, the event caused Binance to finally consider incorporating the Lightning Network into its platform, designed to speed up BTC transactions and make them less expensive.
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