Binance has cited reduced liquidity in Australian Dollar (AUD) pairs as the cause for trading discounts of Bitcoin (BTC) and other digital assets on its Australian platform, according to an emailed statement to CryptoSlate.
A spokesperson for the crypto exchange explained that some users “have been withdrawing their AUD holdings from the platform in anticipation of the platform’s AUD withdrawal services suspension, referred to as “off-ramp closure,” on June 1. Consequently, Bitcoin and other digital assets paired with the national currency face reduced liquidity, affecting their prices.
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