Binance is temporarily upgrading the system maintenance, CZ said the maintenance has gone 5/8 of the way

Binance CEO Changpeng Zhao tweeted that there was unexpected system maintenance on the exchange leading to the transaction being suspended. He also added that they are working on it without providing more details. Recently, however, Zhao announced that one of the market data pushers had an error and needed early resolution.

A system maintenance error occurred on Binance amid price fluctuations

Binance is one of the most popular exchanges in the cryptocurrency trading market due to its trading volume, especially for altcoins. Given the high level of transaction activity, it is not surprising that there is an overload problem, especially with increasing interest in the cryptocurrency industry.

Binance has faced issues on the exchange in recent days, with concerns about its ability to maintain performance, inaccurate balance reports, and misleading order books.

Zhao has resolved these issues. He released a report detailing the user overload after Bitcoin’s price hike of nearly $ 10,000 made users excited to trade – which is also the reason for the problems.

Later, Zhao added that he expected both support and defeat in a balanced manner against the issues the exchange was having, that they were solving it and that it could be overcome. It is unclear whether this sudden downtime is related to previous problems, but as it became common when Binance faced issues.

Despite the correct explanation, there are still some users who are dissatisfied with the overload issues, as well as unexpected downtime that occurred. Overloading issues as detailed in the post from Binance did not solve the problems that some traders encountered, such as forced liquidations due to delays in the past few days. One user, responding to Zhao, pointed out the difficulties he struggled with the platform, calling it ‘unacceptable.’

Currently, Binance is temporarily upgrading system maintenance. Binance has suspended deposits, withdrawals, spot and margin trading, P2P, lending, as well as transferring assets from sub-accounts, escrow accounts, and legal wallets.

At press time, CZ announced that the maintenance has gone 5/8 steps, the only affected part is the market data, the balance and everything is still intact. In particular, Binance will announce the time to cancel the order before the transaction is continued.

Price is jumping up and down. Does this situation of Binance cause anyone to get stuck?

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