Binance, the largest cryptocurrency exchange by trade volume, has announced an important system maintenance that concerns the exchange users. The crypto exchange occasionally undergoes updates and maintenance to help the system function better to give its users the best experience.
In a recent development, Binance has released a notice stating that it will perform scheduled maintenance for its auto-invest system. The crypto exchange giant disclosed this in a recent blog post on its website.
According to the announcement, the maintenance will be done at 2024-02-23 05:00 (UTC). Furthermore, it pointed out that it will be done to help improve the overall performance and stability of the system. Per the announcement, the maintenance will last for about an hour.
In addition, Binance noted that during this period, the creation of new plans will continue uninterrupted. However, cryptocurrency purchases via existing Auto-Invest plans may be delayed. Once maintenance is done, the pending purchases will be executed automatically.
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For context, Binance auto-invest is a system that lets investors automatically invest in cryptocurrencies without necessarily being actively involved.
Using this system, investors can select from a wide range of cryptocurrencies including Bitcoin, Ethereum, XRP, SHIB, MATIC, and ADA to invest in on a daily, weekly, or monthly basis.
The crypto market sees large money inflow
Santiment, a crypto intelligence tool, has reported a major increase in the money entering the crypto market. This should come as no surprise following the approval of a spot Bitcoin ETF by the United States Securities and Exchange Commission.
According to recent reports by Coinshares, a weekly inflow record of over $2 billion was recorded in cryptocurrency investments. More than 99% of inflows went to Bitcoin, and XRP profited from the upbeat sentiment as well, according to reports.
Furthermore, Santiment pointed out that there has also been a significant increase in the speculations of derivatives across the crypto market, stressing that market caps have dramatically increased over the last 4 months.
At the time of writing, the global crypto market cap rests at $1.9 trillion with Bitcoins market cap representing more than 50% of this value. Coinstats data show that Bitcoin currently has a market cap of $1.02 trillion.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.