Binance’s Systems are Overloaded, CEO Says Traffic Boom Shows Crypto Market Recovery

News / 18.02.2020

Within the previous few days, Binance users kept complaining about technical issues like interface errors and delayed updates.

In response to the issues, the company’s CEO, Changpeng Zhao, said such reports regarding the platform are because of an overloaded system.

The CEO commented on the issue in a statement published on February 17 together with some tweets. According to Zhao, far more individuals are currently utilizing the platform as against the last time the price of Bitcoin attained $10k, and it is putting pressure on the system.

He noted that the firm had faced such challenges before and solutions will still be provided in the future. He said the firm is humbled for having the heaviest traffic in cryptocurrency, and people’s support.

Notably, he said it is a robust signal of a powerful recovery for the cryptocurrency markets, thereby placing remarkable load on the firm’s systems. On Twitter, Zhao expressed his optimism about his team’s ability to find solutions to the issues:

He said the firm is asking individuals who think they were “unfairly affected” by the issues to report by submitting a support ticket for review.

Featured image courtesy of Shutterstock. Source: Cryptopress.

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Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.