What happened?Due to the staggering growth in popularity, Binance has to temporarily suspend the registration of new users to update its infrastructure.
- Binance writes
Probably, the exchange, whose engine is capable of processing up to 1.4 million orders per second, was simply not ready for such a rapid growth in the number of users.
Binance opened the trade on July 15, 2017, and since then continues to attract traders with its user-centricity, but the really rapid growth in the popularity of the exchange began in December last year.
So, on December 7, Binance reported that its platform registered 1 million users, and on December 28, that is exactly after three weeks, their number exceeded 3 million.
Also, yesterday the volume of trading Binance for the first time exceeded $5.5 billion, which allowed it to gain a foothold in the first place in the list of the largest stock exchanges in the world. Today, this value is already approaching $9 billion.
Over $3 billion in trading volume falls on TRX / BTC and ETH / BTC. Users of social networks half-jokingly write that TRON, over the past day grew by more than 150%, still broke the server Binance.
The exchange itself claims that the restrictions will not affect existing users, and all services, including advanced account verification, will be provided in the regular mode.
Information Source: Binance