1/ Due to very high load during the past 24 hours, some @BittrexExchange wallets are experiencing an issue that self corrects within 60 seconds. We have identified it is to do with reporting the wallet status rather than with the wallet itself…@CardanoStiftung @cardanocom
— Input Output (@InputOutputHK) November 29, 2017
2/ We are taking precaution of asking @BittrexExchange to temporarily suspend wallets whilst we create a patch to fix this. Trading still taking place and users’ funds are secure. Thanks for your patience while we work on restoring normal service. @cardanocom @CardanoStiftung
— Input Output (@InputOutputHK) November 29, 2017
This is an ongoing situation announced a few minutes ago on the official Cardano Twitter feed. The trading pair ADA-ETH was added this morning to Bittrex and now we hear of a glitch that delays 60 seconds the reporting of the user wallet status.
This is tough to hear on a day when Cardano is up 100%+ with users likely looking to trade either to buy or sell and suddenly trading is halted on Bittrex. Considering Bittrex controls 99.99% of all Cardano market share this essentially means trading of Cardano on the whole has ceased until further notice. For now without further details please see the glorious chart below. It is interesting to note the declining price just before halting wallets. For those that follow stocks, there are similar provisions in place to halt trading to prevent another Black Monday on wallstreet. Perhaps the sudden profit taking and increase in volume caused an overwhelming of the wallet app and delay in reporting which allowed multiple orders from the same coin if placed quickly. May we will hear about multiple sales from the same wallets tomorrow. Stay tuned.
This morning we got this great news about trades for ETH – ADA allowing for another crypto swap of one of the new market darlings and recent addition to crypto market top #10 with Cardano. Before this news he only trade available was BTC – ADA.
Our exchange partner Bittrex have just added a new pairing between ADA and ETH! https://t.co/Z8ZaS1Ydn6
— Cardano Foundation (@CardanoStiftung) November 28, 2017
Hopefully they get it fixed soon and there isnt any nefarious actions taking place. They say that wallets and balances are secure but notice no mention of trades and validity. We will bring you more when we have more information.
