Binance Resumes Spot Trading After Temporary Maintenance

Top crypto exchange Binance said it completed temporary system maintenance and resumed all trading activity. Earlier on Friday, the exchange said it suspended all spot trading on the platform on a temporary basis. It was reported that the estimated recovery time for fixing an issue to be between 30-120 minutes. The exchange’s CEO CZ confirmed the news saying all the funds are safe.

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The Binance trading halt came at a time when rising concerns as German multinational investment bank Deutsche Bank’s shares dropped by 11% as the global banking system undergoes a crisis. Meanwhile, the crypto market is currently showing signs of resilience as the token prices remain stable. However, the Binance trading suspension coincided with Bitcoin price going below the $28,000 milestone.

Binance Spot Trading Resumes

Addressing concerns of traders over the spot trading halt, the exchange said initially that issue occurred as the matching engine saw an error on the trailing stop order. In a latest, the team said it had completed the system maintenance.

“Binance has completed temporary system maintenance and will resume all trading activity.”

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.