Binance undergoes system upgrade, market recovers
Following the recent hack, Binance has begun system maintenance for a system upgrade.
During this time, Binance will suspend deposits, withdrawals, and trading. They will be resuming operations again in estimated 6-8 hours and will be updating the community regularly during the maintenance.
Prior to the trading suspension, most of the altcoins were experiencing a decent recovery following the meltdown few days ago.
Perhaps this is due to the expectation of the crowd that altseason is upon us.
Certainly, altcoins certainly could use a nice rally soon, as most altcoins have seen new all time lows when BTC broke out recently. It was as though the cryptomarket cap revolved only on BTC. At one point this week, BTC dominance hit 60%++, showing everyone who's the boss.
With Binance maintenance to be done soon, it'll be interesting to see how the market will be reacting. Is altcoin season finally upon us? Or will everyone be left despair?