Binance CEO Changpeng Zhao posted on his social media account and announced that the exchange is currently under intense technical pressure. Stating that they received more traffic than ever with the increase in the price of Bitcoin (BTC), Changpeng Zhao explained that the exchange can manage this burden for now. Zhao’s emphasis on “for now” aroused concern.
Bitcoin price has been on the rise with a remarkable momentum since last night. This rise has led to a growth in the market volume and more investors to trade. The crypto currency exchange Coinbase had a technical problem last night, albeit for a short time, due to this intensity. Changpeng Zhao’s statements brought to mind the question “Will Binance have a similar problem?”
The stock market is running for now
Bitcoin (BTC) price reached the peak of 2 years today and saw the number 17 thousand dollars. Bitcoin, which runs to the highest level of all time in terms of market value, has also endured 132 thousand liras in terms of lira.
Binance CEO Changpeng Zhao (CZ) shared a post on his Twitter account while the market was moving. Zhao announced that the exchange is currently receiving more traffic than ever before. Explaining that the stock exchange is not experiencing any problems at the moment, CZ announced that Binance can handle this record load for now.
ATH system load, coping so far. Helpdesk backed up a bit. Your understanding and support is greatly appreciated.
— CZ Binance (@cz_binance) November 17, 2020
The CEO of Binance, the world’s largest cryptocurrency exchange, added that the support team backed up some data and thanked the exchange users for their understanding. Comments on CZ’s statement were generally positive.