Binance announce issues depositing Bytecoin - $BCN still up over a 100%

08 May, 2018
by Will Heasman
News
Binance announce issues depositing Bytecoin - $BCN still up over a 100%

Bytecoin (BCN) has been suffering substantial delays when depositing or withdrawing, leading to an announcement from the Binance team.

“Fellow Binancians,

Due to Bytecoin (BCN) network issues, deposits and withdrawals are experiencing severe delays.  The Bytecoin project team is working to resolve the issue. Please be cautious of high price volatility and trade with caution.

Thanks for your support!

Binance Team”

These issues come on the day the token got adopted by the Binance exchange, leading some to speculate that these issues are due to the massive price growth seen in the following hours after BCN became a listed token. The price increased up to 160% today and is still holding strong, with a rise of a 105% at the time of writing.

With such a rapid increase in both price and popularity, its no wonder the network is struggling. The Twitter account associated with the Bytecoin team, pinned a tweet earlier addressing the issues. The tweet advised against transferring any BCN until the network regained stability.

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