Just-In: Binance Forced to Suspend Withdrawals, Interest Growth in Crypto Apps Spikes Amid Wallstreetbets Rally
Following today’s Bitcoin price rally and spike in new users Binance has temporarily suspended withdrawals for its users. Bitcoin price surged by more than 20% in minutes of world’s richest man’s mention of Bitcoin in his bio. The retail adoption in crypto is also witnessing rapid surge as interest growth for Crypto apps has spiked in last 2 days.
#Binance will be suspending withdrawals temporarily in order to address a large increase in requests from new unique users.
Rest assured funds are #SAFU and we apologize for any inconvenience caused.
Updates to follow.
— Binance (@binance) January 29, 2021
Rapid Crypto Adoption Following WallStreetBets War on Wall Street
As per the latest data crypto apps are under extreme pressure as retail demand for crypto seems to have escalated due to the ongoing wallstreetbets war against Wall street campaign. As seen from graph interest for most crypto apps is witnessing spikes especially in last two days. Major crypto apps that are seeing rapid rise in interest are Blockfolio, eToro crypto, coinbase and Binance.
The crypto app adoption is further expected to be escalated by the Elon Musk twitter bio update whereby the billionaire has mentioned Bitcoin as the only word in his bio. Elon Musk can be confidently counted among world’s most beloved innovator and entrepreneur and he himself promoting Bitcoin cannot be taken lightly.
Due to Elon’s entry as well as ongoing war against wall street sentiment, retail adoption in crypto will see a rise in coming days with more and more users entering crypto space.
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