Order

Coin

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Binance, the largest crypto exchange by daily trading volume, has "temporarily paused some market order functions for all spot and margin trading pairs, due to technical issues identified following a previous update." As the exchange <a href="https://twitter.com/binance/status/1681607207840890881" rel="noopener noreferrer nofollow">revealed</a> on its official Twitter handle, the affected functionalities include Market Order Total and Slider for Amount Customization. 
<blockquote class="twitter-tweet"> 
 We’ve temporarily paused some market order functions for all spot and margin trading pairs, due to technical issues identified following a previous update.🔸 Market Order-Total🔸 Slider for Amount CustomizationYou still can place market orders via Market Order-Amount.Our…— Binance (@binance) <a href="https://twitter.com/binance/status/1681607207840890881?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 19, 2023</a> 
</blockquote> 
<a href="https://u.today/binance-issued-busd-market-cap-loses-45-amid-fud-around-exchange" rel="noopener noreferrer nofollow">card</a> 
It is not uncommon for crypto trading venues to experience related hitches, and Binance's recent bout of hiccups shows it is also not immune to these anomalies. According to the trading platform, users can still place an order using the Market Order-Amount function as it promises that its team of engineers is working to fix the system glitch. 
Binance, as the model mega trading platform, has many critics that <a href="https://u.today/fud-alert-binances-cz-quashes-french-rumors" rel="noopener noreferrer nofollow">unduly escalate news</a> such as the function halt to create fear in the community. Many community members have tagged the announcement of the feature halt as a proactive measure to help combat Fear, Uncertainty and Doubt (FUD). 
The temporary technical glitch comes on the heels of the trading platform's <a href="https://u.today/binance-burns-half-a-billion-dollars-worth-of-bnb-but-theres-major-red-flag" rel="noopener noreferrer nofollow">latest burn event,</a> in which it sent an equivalent of almost $500 million Binance Coin (BNB) tokens to dead wallets. 
<h2 id="possible-implications-of-current-glitch">Possible implications of current glitch</h2> 
While the implications of the temporary halting of some key features of the Binance spot and margin markets might be unknown at this time, fears of lawsuits can be allayed. This is because some of the trading platform's services are still fully online. 
<a href="https://u.today/binance-outage-alleged-victims-to-sue-exchange-liti-capital-liti-coordinates-the-campaign" rel="noopener noreferrer nofollow">card</a> 
Binance has had to deal with a legal battle following the outage of its platform back in 2021. The lawsuit at the time was <a href="https://u.today/binance-outage-alleged-victims-to-sue-exchange-liti-capital-liti-coordinates-the-campaign" rel="noopener noreferrer nofollow">coordinated</a> by Liti Capital, with users claiming damages for losing millions of dollars following the outage at the time. 
Outages are not very common for Binance despite its massive traffic, but it does signify how much users can attempt to leverage vulnerabilities to smile all the way to the bank.

Binance Temporarily Pauses Trading, What's Happening?

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