Crypto exchanges Binance, Bitrue and Kraken are facing technical difficulties in managing the sudden trading activity from an influx of new users on their websites.
All three exchanges have reported technical bottleneck issues with Binance chief executive Changpeng Zhao or CZ admitting:
Systems, even after scaling, is seeing some bottlenecks. Some orders and account info are delayed syncing, for some users.
Roughly four hours ago CZ noted “ATH on a few different matrices.”
The team from the Bitrue exchange took to Twitter and acknowledged that users “may experience problems accessing Bitrue.” They claimed that the issue was due to a significant increase in traffic.
Notice: Due to significant increases in traffic happening right now some users may experience problems accessing Bitrue. We are aware of the issue, and we ask for your patience as we work hard to get everything running smoothly again ?
— Bitrue (@BitrueOfficial) February 1, 2021
On 29 January, Binance temporarily suspended withdrawals after facing a significant number of incoming users on its platform. The suspension occurred amid trading app Robinhood’s decision to curb users from trading GameStock stocks.
Between 29 and 30 January, even leading exchange Coinbase’s users faced issues in completing ID verification due to server delays. The exchange claimed that prolonged high trading volumes caused their customers to encounter problems in trading over Coinbase.
At the same time, Kraken exchange experienced “connectivity issues” as well. As of 1 February, 14:00 UTC, Kraken team stated that clients are having difficulty connecting to the site among other issues connected to very heavy traffic. The exchange also temporarily disabled account sign-ups “due to extremely high demand.”