huge difference in the price of BTCST on different exchanges

[Sun2k]

Hi everyone,

 Why is the price of BTCST on poloniex around $12 but on other exchanges it is $0.89?

Thanks

[franky1]

Hi everyone,

 Why is the price of BTC on poloniex around $12 but on other exchanges it is $0.89?

Thanks

BTC?

i just checked poloniex
BTC / USDT 20684.00 ≈$20705.55


i think what you are looking at is NOT bitcoin
but some altcoins/sidechain token phishing to be bitcoin

edit. seems he is talking about Sh*tToken not BTC

[un_rank]

think what you are looking at is NOT bitcoin
but some altcoins/sidechain token phishing to be bitcoin

It is some coin named Bitcoin standard hashrate^[1]. Never heard of it before now.

This post could be a scam attempt to attract users to certain exchanges so they can lose their money while trying to gain big from arbitrage.

[1] https://www.coinbase.com/price/btc-standard-hashrate-token

- Jay -

[Tytanowy Janusz]

Hi everyone,

 Why is the price of BTC on poloniex around $12 but on other exchanges it is $0.89?

Thanks

"BTCST has undergone a 1:10 token redenomination on March 15th 2021 following the STP-4 Proposal. For more information: please refer to https://btcst.medium.com/btcst-to-implement-results-of-stp-4-1-10-redenomination-the-week-of-march-15-872c9ea3d5b7"
https://coinmarketcap.com/currencies/btc-standard-hashrate-token/markets/

So its possible that one exchange already switched to new tokens at a rate 1:10. So the spread is 8.9$ to 12$ not 89 cents to 12$. So much lower but still a lot which can be caused by locked withdrawals on one of exchanges.

[buwaytress]

Just to alert OP. It's a common exchange scam, you find it all over socials, Discord, Telegram. People coming in and telling you about the huge difference in spread on either a fake/crap coin like you posted, or a fake exchange (you deposit your coins there expecting to sell it at huge profit margin but it's just a giant sinkhole).

For the former, look up the chain. For the latter, look up the exchange and/or deposit exchange.

[pawel7777]

Hi everyone,

 Why is the price of BTC on poloniex around $12 but on other exchanges it is $0.89?

Thanks

"BTCST has undergone a 1:10 token redenomination on March 15th 2021 following the STP-4 Proposal. For more information: please refer to https://btcst.medium.com/btcst-to-implement-results-of-stp-4-1-10-redenomination-the-week-of-march-15-872c9ea3d5b7"
https://coinmarketcap.com/currencies/btc-standard-hashrate-token/markets/

So its possible that one exchange already switched to new tokens at a rate 1:10. So the spread is 8.9$ to 12$ not 89 cents to 12$. So much lower but still a lot which can be caused by locked withdrawals on one of exchanges.

Could be it, but it could also likely be a result of an extremely low volume. According to CMC, the daily volume on Poloniex is a whopping $20.63, meaning anyone can manipulate the price anywhere they want at almost no cost at all.

Anyhow, this belongs to Altcoin discussion.

[Sun2k]

Thank you all..

I posted here because the BTCST is used to mine BTC

@Tytanowy Janusz, Yes I knew there was a redenomination.. but the price is 0.89$ not 8.9$