On the evening of May 10, the cryptocurrency trading platform Binance posted on its official Twitter that all withdrawals will be temporarily suspended.
An hour later, Binance posted again that the withdrawal function had reopened.
Binance has not yet issued a statement regarding the reason for the suspension of withdrawals. Binance's downtime is not an isolated case, and Binance has also experienced this situation when traffic surges. Some analysts believe that under normal circumstances, there are two main reasons for Binance to suspend withdrawals, one is system maintenance, and the other is risk control.
So what is the reason for this suspension of withdrawals? Binance insiders revealed to the media that due to traffic overload, the Binance trading platform suspended all withdrawals today, and the technical team has repaired it. At present, the platform has resumed the withdrawal function. Last week, the daily trading volume of Binance’s spot and derivatives products exceeded 1 trillion yuan.
It is worth noting that Binance previously announced that it will list SHIBA INU (SHIB) at 19:00 on May 10, 2021 (Hong Kong time), and open SHIB/BUSD, SHIB/USDT trading pairs, and SHIB deposit Channel is open.
Therefore, some analysts said that there is a high probability that the system collapsed because of the rapid increase in traffic due to the launch of SHIB.
It only took 2 days for
to go from cheap altcoins to the sizzling number one cryptocurrency in the world, Shib.
On May 8, the price of Shiba Inu coin soared by more than 251%, and the transaction volume reached 40.3 billion yuan, making it a hot search on Weibo.
Behind the skyrocketing Shiba Inu coin is Musk, the currency leader, who caused a bloodbath in the currency circle with just one or two words.
On the 7th local time, Hiromichi Mizuno, Tesla's independent director and former chief investment officer of the Japanese pension fund, said on social media: "Investors can trade Shiba Inu coins on a short-term basis, but don't do this to their Shiba Inu pet dogs. " Musk immediately responded: "I'm looking for a Shiba Inu."
Image source: Internet
On the same day, a user named "Shib Father" revealed that Musk would discuss Shiba Inu coins on the "Saturday Night Live" variety show hosted by him, saying it was It will rise to US$1.
Afterwards, the Shib coin (Shib) was a short-term super yang line, rising by more than 251% within a day, and temporarily reported 0.0000183 US dollars, or about 0.0001 yuan, ranking the top of the list of major exchanges. 5 On March 9, the daily trading volume of Shiba Inu coin reached 40.3 billion yuan, a surge of 1297.64%, and its market value soared by 359.31%. The hot market once caused major trading platforms to suffer a brief downtime. As of the press release on May 10, SHIB’s intra-day increase was still there. Up to 88.78%.
Data source: OKEx
Data shows that the project is called Shiba Inu, which is an experiment of decentralized spontaneous community construction. It is called Shiba Inu in Chinese, and people in the currency circle dubbed it "shiba". Born in 2020 In August, the circulation was 1,000 trillion. After Dogecoin created the myth of getting rich, the currency suddenly became popular, claiming to be the "Dogecoin Killer" (DOGECOIN KILLER), which will surpass Dogecoin in a short period of time.
Industry insiders pointed out that the popularity of Shiba Inu coin has continued from March to the present. One of the reasons is that its current price is low, and hundreds of thousands of SHIB can be owned by a few dollars. For new users, the entry threshold is low. The second is that the bull market’s FOMO (Fear of Missing Out, fear of missing out) mood is extremely high, and no one wants to miss any opportunity to get rich. , after all, there is a lesson for Dogecoin.
(21 comprehensive from China Securities Journal, Cailian Press, Sina Technology, public information, etc.)
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