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Binance Temporarily Suspends Withdrawals to Handle Huge Influx of New Users

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Binance Temporarily Suspends Withdrawals to Handle Huge Influx of New Users

Ever since Elon Musk changed his Twitter profile to include a “Bitcoin” phrase, the crypto market has been piling on Bitcoin like no tomorrow. Binance, the largest cryptocurrency exchange by trading volume, got a “good problem to have” on its lap.

Binance has been experiencing a huge surge of new users and even almost ran out of DOGE coin addresses. In a Bloomberg article, Binance CEO Zhao Changpeng said ““Our system couldn’t generate new [DOGE] addresses fast enough to match new users coming in. It’s crazy.”

It took a while before everything was back to normal. Bitcoin has rallied from US$32,000 to about US$38,500 within a short span of 5 hours. We wonder if Main Street can finally displace Wall Street as a force to be reckon with.

The post Binance Temporarily Suspends Withdrawals to Handle Huge Influx of New Users appeared first on SuperCryptoNews.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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