Binance, one of the top crypto exchanges in the world may undergo a reconditioning as the exchange has announced an upgrade for their systems and would suspend all operations for 8 hours.
Binance has announced that it will be making a scheduled system upgrade on 12th March 2019 at 2:00 AM (UTC), a lot of people have already started predicting, how the prices would behave in the market when there will be no trades and volumes from one of the largest crypto exchange.
According to the official statement, the exchange will go down for 8 hours and will suspend deposits, withdrawals, and trading during this time. The announcement also stated that deposits that were not made before the start of the upgrade will be processed after the upgrade is complete. The exchange has also said 8 hours is an estimated time and this could change.
— Binance (@binance) March 11, 2019
As a lot of people were speculating about the reason for this system upgrade, some of the users have recalled that last time when it was updated the prices came down almost 50%. While the Binance upgrade be good for its systems, but an 8-hour long upgrade is surely making people think as to why is this happening.
A new addition or is there an exposure, we have to wait and watch? But it’s certain, the markets will definitely feel the weight when one of the largest exchanges goes offline.