Altcoins have picked up steam lately, with coins such as MATIC pulling triple-digit percentage gains over the course of a few days. According to a May 22 tweet from Binance CEO Changpeng Zhao (CZ), the exchange has seen a strikingly high number of orders, comparable to crypto’s bull market run of late 2017 and early 2018.
“We are seeing much higher order volumes (number of orders) than Dec 2017/Jan 2018 (the peak),” CZ said in a tweet. “Trade (not order) volume in USD is 1/3 of the peak, but BTC price is 1/3 and ETH price is only 1/5 of the last peak, most other main alt prices are even lower.”
The heavy exchange usage caused a few difficulties earlier in the day on May 22, as the Binance CEO tweeted, “Heavy load affecting some users. Fixing.” He added in a subsequent tweet, “Web, PC, APP are experiencing load issues. API users are fine.”