Huobi, a leading exchange based in Singapore, is adding a circuit breaker mechanism that will halt liquidation when prices become too volatile over a short period of time. Although it does not shut down trading entirely, the new addition is similar to existing systems on Wall Street and is designed to prevent excessive losses during periods of market panic.
Global crypto giant Binance is working on a number of changes behind the scenes. CEO Changpeng Zhao tells Bloomberg that issue number one is ensuring the exchange can handle the heavy load it experienced last month.
“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 to prevent further attacks on its infrastructure after experiencing two denial-of-service attacks at the height of last month’s big market sell-off.
The exchange says it ended up compensating 156 accounts that had stop-loss prices triggered erroneously.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Roman Zaiets