News and Analytics

0

WBTC Trading Issues on Poloniex

Apr 30, 2024

The trading price of Wrapped Bitcoin (WBTC) in a pair with Bitcoin (BTC) on the Poloniex exchange has decreased by 22%, sparking concerns about the accuracy of the exchange's WBTC/BTC pair trades.

Poloniex's data shows no recent trading activity in the WBTC/BTC pair, causing WBTC to trade at a 22% discount compared to BTC. This implies a value of about $48,738 within the pair. Trading of WBTC on Poloniex came to a halt on Mar. 26 and has not resumed since.

WBTC Trading Issues on Poloniex - Image 1

Poloniex does not specify whether it offers WBTC on the Ethereum network or TRON. Despite a previous announcement about TRON-based WBTC, Poloniex's description section still identifies WBTC as an ERC-20 token on the Ethereum blockchain.

WBTC Trading Issues on Poloniex - Image 2

Even after the depeg, WBTC continues to be traded with USDT on Poloniex. On HTX (formerly Huobi), which is also associated with Justin Sun, WBTC seems to be maintaining its peg to BTC. However, there has been no recent trading activity in this pair either. As of now, neither Poloniex nor Justin Sun has addressed this situation publicly.

Comments

Latest analytics

Celestia: Revolution...

Celestia: Revolution in the World of Modular Blockchains

TON Wallets: a...

TON Wallets: a complete guide to use

Show more

Latest Dapp Articles

Show more

You may also like