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Binance Halts and Resumes Bitcoin Withdrawals Due to Network Congestion

1 min read
Source: CoinDesk
Binance Halts and Resumes Bitcoin Withdrawals Due to Network Congestion
Photo: CoinDesk
TL;DR

Binance temporarily paused bitcoin withdrawals due to the bitcoin blockchain being overwhelmed with pending transactions and high fees. On-chain data shows nearly 400,000 unconfirmed Bitcoin transactions, with the average transaction fee doubling since March to a two-year high of just over $8. The adoption of the BRC-20 standard for inscription tokens is driving fees up, with a market cap of $482 million across 14,000 tokens.

Topics:businesscryptocurrency#binance#bitcoin#blockchain#cryptocurrency#transaction-fees#withdrawals
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  1. Bitcoin Network Congestion Causes Binance to Pause Withdrawals  CoinDesk
  2. Binance closes BTC withdrawals amid congestion on the Bitcoin network  Cointelegraph
  3. Binance resumes Bitcoin withdrawals after temporary closure  Reuters
  4. Binance Pauses Bitcoin Withdrawals, Blames Network Congestion  Decrypt
  5. Binance resumes Bitcoin withdrawals after temporary closure By Reuters  Investing.com

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