Binance opens withdrawals for the first phase at 2 p.m. today. TRX is on the first batch list.
I noted this on the evening of October 31: Binance TRX spot was trading at a 78-basis-point discount to OKX and Bybit.
This afternoon, same three exchanges, same asset: an 8-basis-point discount.
In 90 minutes, the gap narrowed by 70 basis points.
Last week I said this was a lake held back by a landslide dam—the people who couldn’t withdraw had bid up the long tail, and the day the floodgates opened was the day they’d have to pay it back.
I noted this on the evening of October 31: Binance TRX spot was trading at a 78-basis-point discount to OKX and Bybit.
This afternoon, same three exchanges, same asset: an 8-basis-point discount.
In 90 minutes, the gap narrowed by 70 basis points.
Last week I said this was a lake held back by a landslide dam—the people who couldn’t withdraw had bid up the long tail, and the day the floodgates opened was the day they’d have to pay it back.
