.$BTC and $ETH market depth on binance_us has sharply deteriorated after the SECGov lawsuit, Kaikodata shows, suggesting that traders and market makers are leaving the exchange contributing to the price anomaly. sndr_krisztian reports
The unusually high price premium is a sign of deteriorating liquidity on the platform as traders are retreating in anticipation of a potential asset freeze, according to Clara Medalie, research director of digital asset data firm Kaiko.
“Market makers are wary ahead of this double blow to Binance's U.S. entity, and are removing liquidity from the exchange's order books in anticipation of a possible freeze,” Medalie said in a note. “No trader wants to get caught with their assets stuck on an exchange.”
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