Just-In: Binance Forced to Suspend Withdrawals, Interest Growth in Crypto Apps Spikes Amid Wallstreetbets Rally

By Sunil Sharma
Published January 29, 2021 Updated January 29, 2021
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Just-In: Binance Forced to Suspend Withdrawals, Interest Growth in Crypto Apps Spikes Amid Wallstreetbets Rally

By Sunil Sharma
Published January 29, 2021 Updated January 29, 2021

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.

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.

Crypto Apps Adoption spikes
Crypto Apps Adoption spikes

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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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
236 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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