The Crypto World Shows Wider Coverage As Binance Briefly Stalls Withdrawals  by Taiwo Lawal

It appears the massive influx of new participants in the crypto space is telling on crypto exchanges as recently, the largest crypto exchange by volume, Binance, revealed that its system experienced the after effects of an overload after new crypto merchants emerged. Because of this, the exchange briefly stalled withdrawals. The CEO of the leading
The post The Crypto World Shows Wider Coverage As Binance Briefly Stalls Withdrawals  appeared first on Cryptotvplus.

It appears the massive influx of new participants in the crypto space is telling on crypto exchanges as recently, the largest crypto exchange by volume, Binance, revealed that its system experienced the after effects of an overload after new crypto merchants emerged. Because of this, the exchange briefly stalled withdrawals.

The CEO of the leading exchange by volume, Changpeng Zhao, noted that the sign ups and buying and selling activities have scaled massively.

 Bitcoin and other Altcoins enjoyed a huge upward turn of events following their hall of fame moment when Tesla’s Musk upgraded his Twitter profile with the word “Bitcoin”. Doge also scaled in value after Musk alluded to it.

Read Similar Articles: VISA Set to Enable Crypto Payments- VISA CEO

Zhao notes:

“We almost ran out of DOGE coin addresses. Our system couldn’t generate new addresses fast enough to match new users coming in. It’s crazy.”

Currently, users are able to withdraw and things are back to normal on the  crypto trading site. The exchange’s Twitter page welcomed all the new users on board and assured old users that their monies and assets were safe amidst the temporary lockdown.

Binance also used the opportunity to tell users that they had insurance for their monies as the Crypto brand sets aside 10% of its trading fees into an insurance fund just in case of rainy days.

What are your thoughts, let’s hear it in the comment section below.

The post The Crypto World Shows Wider Coverage As Binance Briefly Stalls Withdrawals  appeared first on Cryptotvplus.

Read More
Cryptotvplus

Leave a Comment

Ads
Event Search
en_USEnglish
en_USEnglish
Get updated on the latest events happening around you
Join Our Community
Join Now
Get 40% OFF
Join our newsletter and get 40% off your next purchase
Subscribe Now