Binance, the world’s second largest cryptocurrencies exchange by 24hr trade volume suspended trading and withdrawals during North American and European trading hours due to a planned system upgrade on Tuesday, June 27.
The exchange tweeted at 12 pm GMT that it would perform a “scheduled system upgrade” just after 1 pm GMT. Binance said it expected the maintenance to take half an hour. An hour later, it issued an update saying that “Binance’s ongoing system upgrade will be extended
Binance issued another update at 2 pm GMT that “withdrawals would resume again, with a trading opening at 2:45 pm GMT .”
The outage comes a day after a similar outage that started around 2 am GMT on Tuesday 26. Binance development team projected that the upgrade would take just four hours. According to updates posted on its blog, the outage ended outlasting more than 10 hours.
Binance Users took to social media to report their discrepancies on the platform. The exchange officials are yet to indicate any major issues as of press time.
“this one will be short.” Changpeng Zhao, Binance’s CEO twitted.
According to data from CoinMarketCap Binance is the second largest crypto exchange by daily trade volumes. seeing $844 mln in trades over the past 24 hours to press time.