Hassan Maishera
Bitfinex halts trading activities
Bitfinex, one of the leading cryptocurrency exchanges in the world, has announced that it is currently investigating an outage on its platform. As such, all trading activities have been halted at the moment.
In a status update earlier today, Bitfinex said, “Our intervention is nearing successful completion, and the Bitfinex platform will be returning in view-only mode at 9:55 AM UTC. Starting from 10:00 AM UTC, it will be possible to cancel orders before trading opens at 10:05 AM UTC. Thank you for your patience.”
The cryptocurrency exchange added that it is currently investigating the matter. “We are investigating issues with the platform and have to temporarily halt trading. We will keep everyone updated on here and our Twitter account https://twitter.com/bitfinex as we know more. We apologize for the inconvenience,” Bitfinex added.
Bitfinex is one of the leading crypto exchanges in the world. However, its association with Tether, the issuer of the USDT stablecoin, makes some people not trust the platform. Currently, it is the ninth-largest crypto exchange in the world, with a 24-hour trading volume of $712 million.
Bitfinex experienced a similar issue in July. However, at the time, the exchange experienced an outage that lasted about 1 hour, 45 minutes.
Bitcoin holds its price above $43k
Despite the ongoing Bitfinex outage, Bitcoin has been able to maintain its price above $43k. The leading cryptocurrency is up by nearly 2% today, reaching the $43k mark after struggling to keep its price above $40k over the past few days.
The cryptocurrency market has been underperforming in recent weeks. However, Bitcoin has managed to stay above the $40k since early August. Most market experts believe that Bitcoin will reach the $100k mark before the end of the year.
