The crypto industry has seen quite a lot of activity in 2021, even though even the first month of the year did not end yet. The year started with the rally of Bitcoin, and now, the altcoins seem to be following. Meanwhile, it would seem that Binance is attracting more users than ever.
The Crypto industry turns to Binance, causes technical issues
According to a recent Tweet published by Binance’s CEO, Changpeng Zhao (CZ), the exchange seems to be doing rather well. In fact, CZ claims that it is doing better than ever.
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His tweet says that Binance is seeing “ATH everything, user sign-ups, deposits, trades, system loads.”
In fact, Binance is receiving so much attention and seeing so much activity that it crashed again.
Binance once again unable to handle the rush, this time for DOGE
Binance crashing is nothing new. The exchange is becoming known for “shutting down for maintenance” whenever there is a big move in the crypto industry that brings increased activity.
Many in the community are still holding it against the exchange, of course. But, the fact that Binance is crashing in the first place is a sign that it is the go-to exchange when there is an opportunity in the crypto sector.
At the time of writing, Changpeng Zhao has already announced that the exchange is back to normal, which is also not unusual. While it often experiences problems, Binance also tends to return to normal rather quickly.
This time, of course, the industry has gone into a frenzy about Dogecoin (DOGE), which skyrocketed by 420% in the last 24 hours, hitting a new all-time high and surging up to the 10th spot on the list of largest cryptos by market cap. The coin’s current price is $0.06229, while its m.cap sits slightly above $7 billion.
Doge has surged by 603% on a weekly basis, offering the kind of performance that the crypto industry has not seen in a long time, if ever.