🔥🔥Unexpected Event on Binance: Bitcoin Peer Delisted by Coinbase Dropped to $5,000! 🔥🔥
Today at 15:30 Turkey time, a remarkable price movement was observed on the Binance exchange between Wrapped Bitcoin (WBTC) and USDT.
The parity suddenly dropped to 5,209 USDT, experiencing a significant decline, but recovered shortly thereafter and returned to market standards. During this movement, the 15-minute trading volume reached 88.6 WBTC, well above the daily average, which is normally around 1 WBTC.
Reason for the decline: Low liquidity and large sell order
Experts state that the main reason for this sudden price drop is the low liquidity in the WBTC/USDT parity. As a result of a large market sell order, insufficient liquidity caused the price to drop abnormally. Low liquidity can lead to such sudden price fluctuations and short-term crashes.
Coinbase to delist WBTC
Another noteworthy development regarding Wrapped Bitcoin was Coinbase's decision to delist WBTC in December. The company announced that it made this decision on the grounds of "non-compliance with listing criteria". This situation may negatively affect Wrapped Bitcoin's market visibility and trading volume.
My dear friends, please do not withhold your free support. I try to bring you such news instantly. My only request from you is that if there is anyone who still does not follow me, I would be happy if they did. Please do not forget to like my articles and posts. Thank you.