Binance exchange, the world’s largest cryptocurrency exchange by trading volume, was reported to have problems with a couple of users since there was too much load on the exchange, especially with Web, PC, APP.
CZ tweeted:
Web, PC, APP are experiencing load issues. API users are fine. https://t.co/N39fshcOGy
— CZ Binance (@cz_binance) May 22, 2019
He also added that there was much “Higher load” than 2017 when Bitcoin reached its all-time high since inception. Moreover, CZ also said that the APIs for the exchange were working fine and that the team was working on fixing the other issues.
In addition, CZ clarified his tweet about “higher load” as he tweeted:
We are seeing much higher order volumes (number of orders) than Dec 2017/Jan 2018 (the peak).
Trade (not order) volume in USD is 1/3 of the peak, but BTC price is 1/3 and ETH price is only 1/5 of the last peak, most other main alt prices are even lower. https://t.co/e9M20gqnm0
— CZ Binance (@cz_binance) May 22, 2019
However, at press time, Binance was the second largest exchange in the whole of crypto space, according to CoinMarketCap, with an adjusted 24-hour trading volume of $2.3 billion. Moreover, as per CMC, the 24-hour change in the trading volume for Binance decreased by 25.78%.
Moreover, Coingecko platform reported that Binance was the largest in terms of the trading volume; it had a normalized 24-hour trading volume of $1.36 billion and $2.38 billion adjusted trading volume.
Although the exchange was hacked a few weeks ago costing it 7000 BTC [now worth $55 million] the exchange, according to CZ, has been performing well enough.
A Twitter user @Khaleed_kareem0, commented:
“Sir, You need bigger servers for this heavy traffic like FB and google, also need to avail the app officially on the App store and update the IOS version All the support for U @binance”
CZ replied to him hinting that they were working with Apple to release an iOS version of the app.
“working with Apple on that one. crypto apps are tricky, it seems.”
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