Abnormal fluctuations also occurred with the price of the BNB token, it went up from $ 17 to $ 77
The price of bitcoin paired with the USDS stablecoin on the decentralized exchange Binance DEX yesterday, May 20, momentarily rose to $ 89,899. Moreover, the day before, the coin was even more expensive, its rate reached $ 99,999. in relation to another stablecoin TUSD, today they skyrocketed to $ 16,998.
Bitcoin chart on Binance DEX (Photo: binance.org)
Abnormal fluctuations at this site occurred in other pairs as well. For example, the exchange rate of the Binance BNB token in relation to TUSD rose to $ 77. Following this, it dropped to $ 13. At the moment, the market value of the altcoin is $ 16.5.
The reason for these ups and downs is probably the low liquidity of the order book. For example, at the moment, on Binance DEX, the first order to sell BTC for TUSD stands at $ 16,997. Perhaps someone made a mistake when buying a cryptocurrency, which led to a jump in its rate.
Another reason for such price fluctuations may be the sale of large volumes of coins. For example, yesterday a similar, but on a smaller scale, happened on the Bitstamp exchange. The value of bitcoin in a pair with stablecoin USDT dropped to $ 9100. However, the market rate of the coin did not fall below $ 9,500.
Bitcoin chart on Bitstamp (Photo: bitstamp.net)
On May 19, the bitcoin rate on the BitMEX derivatives platform fell to zero, after which trading was suspended. It is not known whether the deal was concluded at this price, the company did not confirm this. However, its representatives said that the work of the platform was suspended due to a failure in the trading mechanism.