Binance Suspends Trading Due to Bug Matching Engine Error

Binance cryptocurrency exchange has suspended trading due to a potential matching error. The CEO has, however, said that the team is already working to restore trading.

December 18, 2020 | AtoZ Markets – Binance cryptocurrency exchange has stopped trading due to an order alignment error. Binance founder and CEO Changpeng Zhao announced this on his Twitter page.

Binance to restore trading within an hour

According to Zhao, the exchange team is already working to restore the functioning of the site and hopes to solve the problems within an hour. The engine of spot and margin trading, the function of deposit/withdrawal, and transfer of funds are in the maintenance state.

Read also: Exmo Crypto Exchange Hacked, Halts All Withdrawal

OTC transactions, peer-to-peer transfers, Earn service, liquidity swaps, Launchpool, and Cloud services have also been suspended.

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The mechanism of convergence and futures trading continues to work, as usual, Zhao noted.

Bitcoin price fell below $23,000

Following the news that Binance has suspended trading, the price of the flagship cryptocurrency corrected towards $22,500 after colliding with resistance near the $24,000 level.

The fall was accompanied by a significant decrease in trading volume. Shortly before the correction, digital gold once again renewed its all-time high.

Almost half a million dollars worth of long positions were liquidated in a few hours.

According to journalist Joseph Young, arrays of sell orders formed at $24,200 and $ 24,500.

However, some users have expressed the hope that the so-called "altcoin season" will soon begin.

At the time of writing, the top ten crypto assets look like this:

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