USDT OTC Price on Binance Briefly Hits 7.4 Yuan with 4.89% Premium

On Feb. 6, USDT's over-the-counter price on Binance briefly climbed to 7.4 yuan before retreating to around 7.28 yuan, platform data show. With the USD/CNY exchange rate at 6.94 at the same time, the quoted USDT premium rate stood at 4.89%.