Binance set to re-enable deposits and withdrawals, altcoins going to moon?
Binance is about to be back up and running.
After being hacked to the tune of 7,000 bitcoins, or roughly $40 million USD, Binance is ready to be back up and running.
Initially once the hacked happened, Binance halted deposits and withdrawals until they could sort out exactly what happened.
Now, in a release from the CEO, Binance says they will be fully operational by Tuesday.
"Our team is making progress and has been working through the weekend. In the past few days, we have made some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected.
We will share details on some of the changes later. We aim to fully resume deposits and withdrawals on Tuesday. The time will be communicated at a later stage, depending on how the testing goes."
So, not only will they be back up and running, but they will be more secure than ever before, awesome.
What might this mean for crypto and altcoins?
This is especially interesting right now with all the bullish momentum in the markets.
Once Binance opens I would not be surprised to see altcoins really take off.
With fresh wire transfers coming in and all the euphoria in the press...
Not to mention with bitcoin potentially topping somewhere around here...
We could see billions of dollars flow over into altcoins right about the time Binance is re-opening.
Which means, I would not be surprised to see some massive altcoin pumps this week.
Get your popcorn ready folks, the fireworks could just be beginning.
Hopefully steem goes with them!
Stay informed my friends.
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-Doc
This will have some good impact on the market
That is the hope. We need steem to move with it though.
Well said my friend 🧐
Thanks.
Good ol Jerry!
I would really like to think that at some point people are going to take profits on their recent BTC gains, and will then look to put that money to work by buying undervalued/depressed alt coins.
Trying really hard to not be skeptical, though... seems like every time BTC takes a dive, the altcoins take an even bigger sympathy dive. Something seems a little off about that dynamic...
Yep. Bitcoin goes up, altcoins go down. Bitcoin goes down, altcoins go down. It's not been good to be an altcoin. Though that dynamic seems to be breaking today. Many altcoins are soaring, steem not included.
well that is good but Binance still need to scan and clean those of its skilled viral teams
What do you mean?
Good, I mean binance need to examine itself, check and re-check its in order to avoid similar thefts by its internal skilled teams
Yes, it sounds like they have beefed up security for the platform.
Will be interesting to see what might happen!
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I think the altcoin rally we are seeing today is partly in anticipation.
A rise for altcoins possible then.
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That's the hope.
Someone on Twitter said something about this which I thought wAs a good point. The new money will start piling in soon as the price climbs. Newbs will feel better about buying hundreds of some alt than they will about 0.15 BTC.
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Yep. Bitcoin tends to bring new money into the ecosystem. Some of which finds it's way into altcoins.
Many are saying that Tether is losing its use for trading pairs which could support the fact of an altcoin run.
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That certainly works for me!
Hmmmmmm we need BTC 65% dominance.
Why is that?
last alts bullrun was at 65%
The one back in January of 2018?
yes last alts bull run
Well hopefully we see something similar this time around!