13. April 2024

Traffic on Binance rises to a record high: site has to go offline for maintenance

Binance went offline for maintenance today shortly after announcing new traffic all-time highs.

The leading crypto asset exchange Binance had to temporarily suspend its spot and margin trading services

Just a few minutes earlier, the CEO had boasted on Twitter that the platform could easily handle new record highs in website traffic.

Binance chief Changpeng Zhao (or CZ for short) tweeted that the exchange had hit a new all-time high in traffic on February 10, stating that the platform was „handling the burden“ of a 60 percent increase in traffic and the previous day’s record traffic have.

CZ also noted that the number of new registrations had reached a record high: „New accounts can still be registered, I don’t know how long.“

CZ’s deleted February 11 tweet

The tweet has since been deleted and BitQT published a notice of „temporary system maintenance“ about 30 minutes later. The exchange was able to resume operations about an hour after the announcement.

Only futures trading could continue as usual. The exchange announced that it had „suspended deposits, withdrawals, spot and margin trading, P2P trading, OTC portal trading, savings and repayments as well as asset transfers from sub-accounts, margin accounts, futures accounts and fiat wallets“.

After posting the maintenance notice, CZ tweeted that it regretted his previous post:

According to the website analysis service SimilarWeb , Binance was ranked 381 of the world’s most popular websites in January, making it third among websites in the SimilarWeb category „Finance> Investing“.

Traffic from Turkey doubled in January and is the largest geographic source of traffic for Binance, with Turkish users accounting for 6.89 percent of Binance’s 136 million monthly visitors. Russia was the second largest traffic source with 6.53 percent, followed by the USA with 5.11 percent, Great Britain with 4.70 percent and France with 3.50 percent.