Bitcoin was trading at a 20% discount on Binance’s Australia arm on Tuesday, compared with rival exchanges, after Binance Australia halted AUD bank transfers earlier this month. LedesmaLyllah reports.
Binance Australia also had its derivatives licenseassured
customers that it will continue to operate in Australia, the effort hasn't successfully addressed the issue, according to Mahmoud. “This is evidenced by record-low trading volumes for the BTC/AUD pairs,” he said. Daily trading volumes on Binance for the BTC/AUD pair were at 12,293,856.55 on May 18 prior to the announcement, and dropped to a low of 912,297.20 on May 20, according to CCData.
“According to our data, despite the significant discount, arbitrageurs are taking advantage of the lower prices, suggesting that the problem may be resolved once the funds are transferred to USDT.”
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