Forum Reader
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- Aug 25, 2019
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- 1,424
Partially that but I think its mostly due to liquidity and trading volume. Luno is a fraction of a place like Binance and so spread will be way higher with higher base price that takes longer to adjust to international pricing.
I think Luno also has generally more buyers than sellers which pushes up the price. Many traders just buy on Luno and transfer to other exchanges to trade. The only time they will ever sell on Luno is when they want to cash out but many never do because they either lose their BTC whilst trading elsewhere or they don't want to declare tax.

