The cryptocurrency market surged on the back of a bullish wave as the entire market capitalization breached the $150 billion mark.
CZ’s Binance Coin [BNB] also joined the bullish parade as Bitcoin broke multiple resistances. However, Binance exchange was crippled by a major technical issue. First pointed out by a post on Binance’s Reddit community, a user reported being unable to log after the exchange’s UI repeatedly crashed.
CZ, the CEO of Binance, acknowledged the report and went on to inform his Twitter followers about the situation. He tweeted,
One of the speculated reasons for Binance’s UI crashing was that a massive flash hike could have possibly slowed down the exchange’s network ability to handle the enormous traffic.
Binance’s Reddit representative symbiotic_bnb commented on the issue and stated,
“We’re experiencing some issues with the way that the UI is handled under stress [also applies to the applications]. Expanding our capacity at the moment and expect reduced latency soon.”
Another Redditor, faresarOx, commented,
“I guess binance was not prepared for this sudden large interest in trading.”
Binance Coin only recently made it into the top ten cryptocurrencies list on CoinMarketCap.
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