Binance halts Bitcoin withdrawals for the second time in 12 hours

Binance halts Bitcoin withdrawals for the second time in 12 hours



The crypto exchange said it temporarily closed BTC withdrawals due to a “large volume of pending transactions.”



Binance has once more temporarily stopped allowing users to withdraw bitcoins, blaming a massive backlog of outstanding withdrawal requests.



On May 8, Binance stated that it had "temporarily" stopped allowing BTC withdrawals due to a "large volume of pending transactions."



The firm's "set fees did not anticipate the recent increase in [Bitcoin] network gas fees," it said, adding that the transactions are still waiting.



Binance saw significant Bitcoin net negative outflows on May 7 with around 175,650 BTC worth around $4.95 billion flowing from the exchange on the day according to data from CryptoQuant.



source



Read more about Binance halts Bitcoin withdrawals for the second time in 12 hours


#Binance, #Bitcoin, #Cryptonewstoday, #Regulations

Comments

Post a Comment

Popular posts from this blog

Bitcoin news

Image
Bitcoin news section contains news about bitcoin - the main cryptocurrency. While the crypto world has a vast variety of cryptocurrencies, bitcoin has around half of it, at least, by capitalization on the cryptocurrency market. The same story with the cryptocurrency news - bitcoin news plays an important role here and there are lots of them daily, comparing to the other coins. While being the first of a kind, bitcoin is not becoming outdated as the core development team is constantly working on improvements of its code and network. But ... Read more about " Bitcoin news " on coinatory.com
Read more

Bybit & Dogs Wednesday Airdrop: Exclusive Rewards for New Users

Image
Bybit & Dogs Wednesday Airdrop: Exclusive Rewards for New Users Get ready for an exciting chance to win in our Wednesday Airdrop event, where everyone walks away with something! Don't miss out—claim Dogs coins now! 100% Win, First Come, First Served Event Dates: August 21, 2024, 10 AM UTC to August 27, 2024, 11:59 PM UTC Step-by-Step Guide: If you don't have a Bybit account. You can register here Register here Total Net Deposit ≥ $100. You will get 4 chances in the Lucky Draw. (Exclusive for ... Coinatory crypto news
Read more

What is Zcash?

Image
Many countries around the world are increasingly adopting cryptocurrency due to its speed and privacy feature that keeps transactions safe and secured. However, it is not all cryptocurrencies that guarantee privacy to users due to their design technique. For instance, the bitcoin uses a blockchain technology that serves as an open ledger, Whenever users transact, the details are stored in a block and can be tracked using the information stored by miners in the blockchain. Some cryptocurrencies are against the bitcoin"s design which exposes ... Read more about " What is Zcash? " on coinatory.com
Read more