Binance Resumes Spot Trading After Temporary Maintenance

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Top crypto exchange Binance said it completed temporary system maintenance and resumed all trading activity. Earlier on Friday, the exchange said it suspended all spot trading on the platform on a temporary basis. It was reported that the estimated recovery time for fixing an issue to be between 30-120 minutes. The exchange’s CEO CZ confirmed the news saying all the funds are safe.

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The Binance trading halt came at a time when rising concerns as German multinational investment bank Deutsche Bank’s shares dropped by 11% as the global banking system undergoes a crisis. Meanwhile, the crypto market is currently showing signs of resilience as the token prices remain stable. However, the Binance trading suspension coincided with Bitcoin price going below the $28,000 milestone.

Binance Spot Trading Resumes

Addressing concerns of traders over the spot trading halt, the exchange said initially that issue occurred as the matching engine saw an error on the trailing stop order. In a latest, the team said it had completed the system maintenance.