There seems to be a persistent difference between the ADA/BTC price on BitTrex vs. Binance. Any logical explanation?
Well each exchange is isolated from all others so swings of trading (especially fast ones) won’t be reflected on other exchanges. I presume that some folks are paying attention to other exchanges and moderating their buy/sell expectations based on those.
Of note: the price difference for Bitcoin & Litecoin is usually markedly higher on GDAX than most other exchanges. I presume that this is because a lot of new money is entering the market at Coinbase/GDAX and thus creating a persistent upward pressure in demand on those exchanges - inflating the prices.
I’ve started to track this is my google sheet. I guess some people will be doing arbitrage when both exchanges have functioning deposit / withdrawal situations, reducing the percentage difference.
When the exchanges don’t have working wallets, it’s likely that we might see the percentage spike.
withdrawals not working on binance probably has something to do with it. i know i currently have 5k ada held hostage on there.