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Binance Temporarily Suspends Withdrawals to Handle Huge Influx of New Users

Ever since Elon Musk changed his Twitter profile to include a “Bitcoin” phrase, the crypto market has been piling on Bitcoin like no tomorrow. Binance, the largest cryptocurrency exchange by trading volume, got a “good problem to have” on its lap.

Binance has been experiencing a huge surge of new users and even almost ran out of DOGE coin addresses. In a Bloomberg article, Binance CEO Zhao Changpeng said ““Our system couldn’t generate new [DOGE] addresses fast enough to match new users coming in. It’s crazy.”

It took a while before everything was back to normal. Bitcoin has rallied from US$32,000 to about US$38,500 within a short span of 5 hours. We wonder if Main Street can finally displace Wall Street as a force to be reckon with.

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About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us