Binance Trading Halt. Binance, one of the largest cryptocurrency exchanges, halted trading yesterday due to temporary “system maintenance.” Its system upgrades have come as a complete surprise to all of its users as they were given no prior warning. Many took to Twitter (NASDAQ:TWTR) and expressed their anger towards the exchange. The timing of the upgrade from the multi-million dollar exchange wasn’t the best, as cryptocurrencies had just begun to crawl their way back.

The upgrade originally was only supposed to be temporary and only some users were set to be affected. However, the team ran into server issues where the data became out of sync. Due to the large size of the data, it is said to take several hours more. However, no data has been lost – no need to worry. Progress is steady, and the exchange is set to resume at 4 AM UTC tomorrow. The cryptocurrency market is expected to resume double-digit percentage gains tomorrow, just as we saw yesterday.

Coins Up

Most of the top ten coins have slightly corrected since yesterday, as most were in double-digit gains.

Bitcoin (available on Coinbase) Cash (BCH) is leading the group, up 30% for the day. However, Bitcoin (available on Coinbase) (BTC) is seeing some green and is making the slow charge towards $10,000.

Currently, BTC is trading at $8,376.21 a coin, up 2.72%.

EOS (EOS) is another coin slightly up in the top ten. Currently, it is trading at $8.43 a coin, up 2.85%, in 24 hours.

IOTA (MIOTA) is trading at $1.81 a coin, up 2.64%.

Monero (XMR) wasn’t affected by the Binance freeze and is currently up 10.81%, trading at $250.55 a coin.

Common Theme?

Do we all remember the CoinMarketCap debacle a few weeks ago? Is this a new theme in the crypto market – keep investors in the dark? I can understand the emergency issue when Coinbase and GDAX had to emergency upgrade because the high influx of investors was too much for their systems to handle but somETHing has got to give. Communicate. Luckily, it hasn’t rocked the market as many of these others have done in the past but let us learn from our mistakes.

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Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. You could call her a “blockchain enthusiast.” In addition to content writing, she is an experienced Social Media Strategist. Before moving to CanADA, she spent 10+ years marketing
and working hands-on in the medical practice industry.