Crypto asset platform Binanceannounced the temporary suspension of spot trading. After this statement, the platform stated that it continues to work to resolve the trading issue as soon as possible. Here are the details!
Spot trading temporarily stopped on Binance
Spot transactions on Binance, the world’s largest cryptocurrency exchange, have been temporarily suspended. After this problem, Bitcoin declined from $ 28,106 to $ 27,730 in half an hour.
Regarding the aforementioned issues, Binance founder Changpeng Zhao made a statement. In the statement, he made the following statements: “Initial analysis showed that the matching engine encountered an error in processing a stop order. Estimated 30-120 minutes for match engine recovery, more precise ETA expected.”
Binance CEO CZ also stated that they were unlucky with the malfunction. “We were a little unlucky with this malfunction. Our engines take hourly snapshots. This error occurred within 57 minutes. Therefore, it takes a little longer to fix the fault.” In addition to these, this problem does not seem to have affected the global market.
It is stated that a similar problem is experienced in Turkey as well. Regarding the problem Binance Turkey A statement came from. “There is a situation in Binance TR that affects spot trading. All spot trading is currently temporarily suspended as we work to resolve this as soon as possible. New updates will be shared here.”
What are Binance spot transactions?
Spot trading; It involves directly buying and selling financial instruments and assets such as forex, cryptocurrencies, stocks or bonds. In this case, the asset is often delivered instantly. It can also be defined as an instant buy and sell transaction on the last price of a product.
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