THETA, the shining star of recent weeks, is trading at significantly different price levels on different exchanges.
Altcoin, which has frequently mentioned the name of the last period, experienced a 1000% increase between March 19 and May 27. Cryptocurrency, which has been declining for a few days, is still trading 500 percent higher than a month ago.
Following this parabolic rally at THETA, the price showed significant deviations between different crypto exchanges. During the minutes of the news, THETA, which was bought and sold at $ 0.37 in Huobi, changes hands at Gate.io at $ 0.30 and Binance at $ 0.32. There is a 23 percent difference between the Huobi and Gate.io exchanges and a 15 percent difference between Binance and Huobi.
So what is this difference in price? According to Sam Bankman-Fried, founder and CEO of the cryptocurrency derivative exchange FTX, a few exchanges have suspended withdrawals and deposits a few days ago, and most exchanges are still implementing it. This made arbitrage between different exchanges impossible and consequently price differences grew.
The price increase in THETA came after the launch of the 2nd edition of the main network of the project and partnerships with Samsung and Google.