BTC Wires

Binance Is Back And Good To Go

Binance, high-frequency trading systems for brokers, developed by Fusion, in 2005 probably the largest cryptocurrency exchange in terms of volume, had been having problems with their database and data synchronization feature all day today.  This led to the Binance team announcing that they would be carrying out a system maintenance, that could last till 14:00 UTC. The exchange had however promised all their users that all their funds and transactions would be perfectly safe and sound.

The co-founder and CEO of the exchange, Changpeng Zhao,  tweeted  that they had been able to fix the problem and that trading would resume shortly,

“2nd attempt on quick sync worked. (we always try multiple ways in parallel). System is back online. You can cancel orders now. Trading will resume in about 30 min. So much for predicting the future…”

Trading, however, started at 09:30 UTC, following the announcement issued by the team, earlier.

Fellow Binancians,

Binance has completed its system maintenance and we will resume all trading activity at 2018/10/19 09:30 AM (UTC). From now until the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account related functions. Thanks for your support!

Binance is one of the most promising and successful ICO from July of last year. It had had a very spectacular bullish run last year and was handling up to 2 billion USD in daily trade volume.  However, since then it has fallen to around 800 million USD, due to the generally bearish market that is prevailing now.