Claim $500Breaking: Binance Settles Pending Bitcoin Withdrawal Transactions
Binance News: Binance, the world’s biggest crypto exchange shared an update on the pending Bitcoin (BTC) transactions. The exchange announced that after resuming withdrawals, all pending BTC withdrawal transactions have now been processed.
Also Read: Binance Bitcoin Withdrawals Halts Leave Crypto Stocks Tumbling
Binance Enabled BTC Lightning Network Withdrawals
The world’s biggest crypto exchange in a Tweet stated that all unresolved withdrawal transactions were completed. It added that their team is already implementing solutions to make sure this doesn’t repeat again.
Earlier, Binance reported that Withdrawals were turned active on the exchange. While pending transactions were processed by replacing them with higher transaction fees. In order to avert such incidents in the future, the fees were being adjusted.
However, it added that the exchange will be enabling Bitcoin lightning Network withdrawals which will provide support ahead in situations like this. Meanwhile, the exchange called it a learning opportunity and claimed to prevent this ahead. Read More Binance News Here…
Also Read: Bull Market Issue; CZ Addresses Bitcoin Withdrawals Issue
Changpeng Zhao (CZ), Binance boss commented on the recent fiasco. He stated that gas prices fluctuate and jump, while transactions get stuck, fees go up and people complain. He tagged this situation as a bull market issue.
Binance Bitcoin Withdrawal halt left the crypto market tumbling. The digital crypto market dropped by over 3% over the last day. The cumulative market cap stands at around $1.16 trillion. However, its 24 hour trading volume is up by 20% to stand around $38.77 billion.
Bitcoin price declined by around 3.7% over this period. BTC is trading at an average price of $27,915, at the press time.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin and Ethereum Options Traders Turn Slightly Bullish, Santa Claus Rally?
- WhiteBIT Announces Global Trading Promotion With TradingView and Tether: up to 30% Cashback for Traders
- Crypto Market Watches as Federal Reserve Injects $6.8B in Liquidity Today
- BOJ Rate Hike Backfires: Yen Crashes, Bitcoin Price Rally Uncertain
- Canary Capital Announces Major Changes to Its SUI ETF
- Weekly Crypto Price Prediction: Bitcoin, Ethereum, and XRP as Market Momentum Builds
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
