Key Points:
- BTC/USDT sudden drop to $2707 due to a Kline display issue.
- The glitch was related to the UI aggregated Kline, not trading data.
- The issue was identified, and engineers estimated a 2-hour ETA for resolution.
Binance exchange witnessed a BTC/USDT sudden drop to $2707 due to a Kline display issue, and trading remained unaffected. Resolution ETA: 2 hours.
In a surprising turn of events, the Binance exchange has witnessed a BTC/USDT sudden drop to $2707. Traders and crypto enthusiasts were left bewildered by the unexpected plunge. However, it wasn’t a market crash or manipulation that caused this sudden dip; it was a technical glitch.
Futures Kline Display Issue
The issue was related to the Futures Kline (chart) display on BTCUSDT. According to CZ, the CEO of a major crypto exchange, “The UI aggregated Kline has an issue, but the raw Kline via the API is working fine.” This was reassuring news for those concerned about the integrity of the data.
Trading Remained Unaffected
One crucial point to note is that despite the display issue, trading remained unaffected. This meant that while the chart displayed an alarming drop to $2707, actual trading continued smoothly.
The Binance exchange’s team quickly identified the root cause of the problem – some new code that had been introduced. They planned to revert the changes and fix the data to rectify the situation. CZ estimated an approximately one-hour timeframe for the fix, but users were advised to expect a delay of around two hours as a precaution.
