Binance Bitcoin Withdrawals Halts Leave Crypto Stocks Tumbling
Crypto News: The global digital asset market printed red indexes on Monday as Binance reported multiple Bitcoin withdrawal halts over the past 24 hours. However, the data suggests that top crypto are not the only ones who took a hit due to withdrawal stoppage crypto stocks also recorded a slump.
Also Read: Bull Market Issue; CZ Addresses Bitcoin Withdrawals Issue
Crypto Stocks Decline
Coingape reported that Binance decided to pause BTC withdrawals citing a spike in pending transactions as it wasn’t able to offer high enough rewards to miners to log the trades. According to the data, blockchain and crypto linked companies recorded a pre market trading decline on Monday. However, Bitcoin price recorded a drop of more than 3% to decline the $28K price level.
Coinbase Global Inc (NASDAQ: COIN), the U.S. biggest crypto exchange, stock price dropped by 4% pre market. Its pre market price stood around $56.44. However, Coinbase recently secured a first round win against U.S. Securities and Exchange Commission (SEC).
Bitfarms Ltd pre market price dropped by 4.3%, while Riot Platforms Inc’s (NASDAQ: RIOT) price slumped by 6.5%. However, Marathon Digital Holdings Inc (NASDAQ: MARA) price declined by 6.5% to stand at $10.79. Read More Crypto News Here…
Also Read: Binance Alleged Of Evading Russian Sanctions; CZ Yet To Reply
The global digital asset market dropped by around 3% over the last day. The cumulative market cap stands at around $1.15 trillion. However, its 24 hour trading volume is up by 18% to stand at $37.76 billion.
Bitcoin, the biggest crypto price is down by 3.58% over the past 24 hours. BTC is trading at an average price of $27,869, at the press time. Its 24 hour trading volume is up by 9% to stand at $15.4 billion.
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