Advertisement
AD

Main navigation

Binance and Bitrue Seeing Technical Bottlenecks Due to Surge in Traffic

Advertisement
Mon, 1/02/2021 - 14:00
Binance and Bitrue Seeing Technical Bottlenecks Due to Surge in Traffic
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents
Advertisement

Two crypto exchanges, the top-tier Binance and the 72nd-ranked Bitrue, have faced the consequences of a sudden inflow of new users and their trading activity on the websites.

If Binance is running and fixing the issues on the move, Bitrue users may have issues accessing the exchange, the team warns.

Significant increases in traffic

Both exchanges have reported issues due to an inflow of new users. If Bitrue seems to be unavailable for users at a given moment, the chief of Binance, CZ, has admitted that "systems are seeing some bottlenecks" with the team doing its best to resolve the situation. Bitrue has tweeted:

Due to significant increases in traffic happening right now some users may experience problems accessing Bitrue. We are aware of the issue, and we ask for your patience as we work hard to get everything running smoothly again.

Some users are unable to execute their orders and account data is not syncing, according to the tweet. Binance is working on it. The reason is that, about two hours ago, the platform saw all-time highs in several different matrices.

BTC
Image via Twitter

Related
Elon Musk Easily Moves BTC, DOGE, GME Markets with His Tweets, Experts Call for Regulation: CNBC

The second time Binance has stumbled in a few days

Binance faced a similar situation and had to suspend withdrawals last Friday, after which it experienced a monstrous inflow of new users, deposits and trades, and the platform was unable to handle all those ATHs.

This happened after the scandal around Robinhood and a few other apps that restricted the trading of quickly rising GME stocks and shares of other trending companies, cutting them down to only selling for retail users.

Institutional investors were still able to both buy and sell. The hype was around a short-squeeze caused by a large group of traders from Reddit against Wall Street hedge funds.

From GME and into crypto on Binance

Back then, many crypto community influencers shared their fury on Twitter, saying that crypto markets are the only ones that cannot be shut down. Prominent Bitcoiner Max Keiser shared his expectation that funds from shares would now rush in Bitcoin.

Tesla CEO Elon Musk was among those who were enraged by the actions taken by Robinhood. The following day, Elon Musk tagged "Bitcoin" as the only word in his Twitter bio, causing BTC to jump from $32,000 to above $38,000.

This has continued as, earlier today, Elon Musk admitted that "Bitcoin is a good thing," and he had become a BTC supporter. This has not impacted the price, however.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
Our social media
There's a lot to see there, too

Popular articles