What’s Causing 2% Bitcoin Premium on Bitfinex? Possibility of Arbitrage
On Bitfinex, a leading cryptocurrency exchange, Bitcoin is being traded with a 2 percent premium based on the current price of $6,285.
As BitMEX Research revealed, the premium of Bitcoin on Bitfinex continued to increase throughout the past week, during a period in which Tether (USDT) started to demonstrate a decline in price.
Currently, on Bitfinex, all traders are requested to purchase or sell major cryptocurrencies like Bitcoin and Ethereum with USDT, due to the suspension of deposits into the exchange’s HSBC banking account.
As the price of USDT fell from $1 to $0.098, by around 2 percent, the premium of Bitcoin on Bitfinex increased by a similar margin.
https://www.ccn.com/whats-causing-2-bitcoin-premium-on-bitfinex-possibility-of-arbitrage/
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