BREAKING
Breaking News: Binance Over-Registration Means Limiting New Users

2018-01-12 03:45:30
by Dominic Brown
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Hong Kong\'s Binance.com is expanding every minute, making it the highest ranked cryptocurrency exchange in the world

Hong Kong\'s Binance.com is expanding every minute, making it the highest ranked cryptocurrency exchange in the world. In a televised interview on January 11th with Bloomberg, the company CEO said the platform was signing up \"a couple of million\" registered users a week. Zhao Changpeng also said that in one hour, on January 10th, 240,000 people had registered.

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Speaking from Tokyo, Zhao confessed that they had not expected this level and rapidity of growth. The colossal rise in demand has forced the company to put a limit on registering new customers, although Binance may be fully operational again in the next few weeks. Regulatory activity in South Korea may have some relevance to the situation, as SK exchanges have been removed by global trading platforms and customers may be looking for new outlets.

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Zhao said that the average customer on Binance was a 25 year old male, although the company was beginning to see \"a lot of interest from institutional investors.\" Daily traffic has been so high that Binance regularly runs up against the permitted limit of servers it is allowed per account by Amazon Web Services, its cloud services provider.

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In the last 24 hours, Binance has topped CoinMarketCap\'s list of the most active global cryptocurrency exchanges, hosting almost $6bn worth of trades. The top-traded listed asset was Tron, with some 10-11% percent of the total volume.

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