Global cryptocurrency exchange Binance recovers from several pauses for Bitcoin, Its US arm, Binance.US, sells BTC at a premium.
The price of bitcoin on Binance.US is $700 above the cryptocurrency's market price on May 9. At the time of writing, or around 1:30AM UTC, Bitcoin was trading at $28,393, according to the Binance.US Bitcoin page. According to data From CoinGecko and CoinMarketCap, bitcoin is currently trading at a market price of $27,722, about 2 percent below the price quoted on Binance.US.
The intraday high of Bitcoin on Binance.US was as high as $28,600, while its market price had an intraday high of just $28,004. Meanwhile, the lowest intraday price of Bitcoin on Binance.US was between $27,350 and $27,669. in premium on Binance .US comes shortly after major global exchange Binance experienced major withdrawal issues on May 7.
As Bitcoin faced unusual mempool congestion, the exchange was forced to shut down withdrawals, leaving more than 400,000 transactions stuck on the Bitcoin blockchain. The incident apparently prompted Binance to finally consider adding the Lightning Network to its plat form, which is designed to speed up BTC transactions and reduce transaction costs.
