Malos10 on Nostr: Binance is a shitcoin The Venezuelan cryptocurrency market experienced a day of high ...
Binance is a shitcoin
The Venezuelan cryptocurrency market experienced a day of high tension this Friday, after the price of Tether (USDT) experienced marked volatility on P2P (peer-to-peer) exchange platforms. In a matter of hours, the exchange rate went from a high of nearly 780 bolivars to stabilizing around 580 bolivars, generating uncertainty among users and traders who use this stablecoin as a store of value.
In response to this unusual behavior, Binance, one of the most widely used platforms in the country for peer-to-peer crypto transactions, announced the implementation of temporary price limits on its P2P market. The measure was communicated through its official Telegram channel:
"During periods of high volatility, Binance may apply temporary price limits as a risk control measure to prevent abusive behavior and unfair trading outcomes," the company stated.
The company clarified that prices on its P2P platform are determined by user supply and demand, but that in extreme circumstances it may intervene to protect market integrity. While the ranges and duration of the limits were not specified, the decision responds to atypical movements observed in Venezuela, where USDT has become a key tool for everyday transactions, savings, and hedging against inflation.
According to data published on Binance Square, on January 2nd the USDT reference rate was 572.15 bolivars, but in recent days some buy offers exceeded 900 bolivars before falling sharply. This volatility coincided with rumors and political tensions that impacted risk perception in the local market.
Published at
2026-01-13 00:36:23 UTCEvent JSON
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"content": "\nBinance is a shitcoin \n\nThe Venezuelan cryptocurrency market experienced a day of high tension this Friday, after the price of Tether (USDT) experienced marked volatility on P2P (peer-to-peer) exchange platforms. In a matter of hours, the exchange rate went from a high of nearly 780 bolivars to stabilizing around 580 bolivars, generating uncertainty among users and traders who use this stablecoin as a store of value.\n\nIn response to this unusual behavior, Binance, one of the most widely used platforms in the country for peer-to-peer crypto transactions, announced the implementation of temporary price limits on its P2P market. The measure was communicated through its official Telegram channel:\n\n\"During periods of high volatility, Binance may apply temporary price limits as a risk control measure to prevent abusive behavior and unfair trading outcomes,\" the company stated.\n\nThe company clarified that prices on its P2P platform are determined by user supply and demand, but that in extreme circumstances it may intervene to protect market integrity. While the ranges and duration of the limits were not specified, the decision responds to atypical movements observed in Venezuela, where USDT has become a key tool for everyday transactions, savings, and hedging against inflation.\n\nAccording to data published on Binance Square, on January 2nd the USDT reference rate was 572.15 bolivars, but in recent days some buy offers exceeded 900 bolivars before falling sharply. This volatility coincided with rumors and political tensions that impacted risk perception in the local market.",
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