Crypto Exchanges Plan Massive Changes Following The March Black Thursday
There are various crypto exchanges that are working hard to improve their internal infrastructure following the volatile March 12th crypto crash.
You may remember that on that date, which is now called the Black Thursday, Bitcoin fell significantly below $4,000 and managed to freak out all crypto enthusiasts who started to think about the end of crypto.
Naysayers were saying that this was it, and BTC would head to zero, but as you can see today, this was definitely not the case.
Considering that one month later, BTC managed to bounce back in the $9,500 area, it’s pretty safe to say that the Black Thursday is now history.
Crypto exchanges are planning to make some changes
After what happened back in March, according to the latest info coming from the online publication the Daily Hodl, crypto exchanges are planning to make some significant changes.
For instance, Huobi, which is based in Singapore adds a circuit breaker mechanism that will halt liquidation when prices become too volatile over a short period of time.
This doesn’t shut down trading completely, but it’s similar to the existing systems on Wall Street.
Binance is also working on some changes and Changpeng Zhao told Bloomberg that the main issue is to make sure that the chance can handle the heavy load that they had to experience back in March.
“We are changing a lot of our internal systems, just to be very cautious and conservative and be safe about it. The number one thing we are focused on right now is just to increase system capacity.”
BitMEX, based in Seychelles, has been working really hard in order to prevent more attacks on its infrastructure after it experienced two denial-of-service attacks at the height of last month’s big market sell-off.
At the moment of writing this article, BTC is trading in the green on CMC.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.