Key Points:
In a surprising turn of events, the Binance exchange has witnessed a BTC/USDT sudden drop to $2707. Traders and crypto enthusiasts were left bewildered by the unexpected plunge. However, it wasn’t a market crash or manipulation that caused this sudden dip; it was a technical glitch.
The issue was related to the Futures Kline (chart) display on BTCUSDT. According to CZ, the CEO of a major crypto exchange, “The UI aggregated Kline has an issue, but the raw Kline via the API is working fine.” This was reassuring news for those concerned about the integrity of the data.
One crucial point to note is that despite the display issue, trading remained unaffected. This meant that while the chart displayed an alarming drop to $2707, actual trading continued smoothly.
The Binance exchange’s team quickly identified the root cause of the problem – some new code that had been introduced. They planned to revert the changes and fix the data to rectify the situation. CZ estimated an approximately one-hour timeframe for the fix, but users were advised to expect a delay of around two hours as a precaution.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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