Following a recent outage on one of the largest and most diverse cryptocurrency trading exchanges, Binance have announced a 70% reduction in trading fees on the platform until 24th Feb. This will see fees fall to 0.03% per transaction, or an even greater 0.015% when trading BNB pairs. Binance stated this is to reward users for their patience and gratitude during this period.
— binance (@binance_2017) February 9, 2018
The down time occurred due to supposed server problems on Wednesday, but Binance later announced that it was going to take longer than they had previously planned to get the platform back up and running. Due to the sudden nature of the outage, combined with notorious crypto shiller John Mcafee FUD and the recent $500m NEM hack, some began to speculate that Binance had in fact been hacked. Market sentiment is clearly still low.
Fortunately, Binance have now announced that services will resume at 10:00 AM (UTC) on Feb 9th, citing a necessary system upgrade as explanation for the down time. However, some users may still be experiencing problems due to a sustained DDoS attack on their cloud server provider. If you are experiencing problems, Binance are suggesting you try https://us.binance.com/ or https://kr.binance.com/.