Bitcoin Discount Emerges on Binance Australia Ahead of Payment Cutoff
- Binance Australia set to lose local currency withdrawal route
- Investors thought to be selling at lower price ahead of cutoff
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Bitcoin and other digital tokens were trading at a discount on Binance Australia versus rival exchanges in the country with the platform set to be cut off from a key local currency withdrawal route.
Bitcoin traded at A$34,863 ($22,670) on Binance Australia as of 1:10 p.m. Tuesday in Singapore, about A$7,516 lower than the average price on platforms including Independent Reserve and CoinJar, CryptoCompare data showed. Discounts of about 20% were also evident for tokens like Ether and Solana.