Somebody paid 82k USD for one Bitcoin on Binance

24.11.2020

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A trader paid $82,000 for one bitcoin on Binance. Is it a matter of human error or stock market interface? Price jumps to a new record level took place within the BTC/TUSD pair.

An anonymous BTC trader caused a stir in the investment community after having incurred the cost of almost five times the average market price per bitcoin. A trade that community members attribute either to an interface bug or an unfortunate user error caused the price of bitcoin to rise temporarily to $82,000.

The following BTC / TUSD chart on Binance illustrates the anomalous trade that took place on November 17th when the bitcoin price was $16,600. The wick of a candle rose to $82,000 within a 1 hour time window, returning to its original price immediately after it was closed.

Other bitcoin trading pairs, including the USDC, DAI and USDT, were not affected by the sudden increase in the market price.

Some analysts claim that the transaction was probably due to an error in the exchange interface. This is evidenced by a stable trading volume at the time of the transaction. If a human error factor were to come into play, there would probably be an avalanche of orders before the price reaches 82,000 USD per bitcoin. Binance has recorded similar events in the past, which were also attributed to an error that was most likely due to an exchange failure.

JacekSalach

24.11.2020 11:20

Accepted.