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Binance Halts Bitcoin Withdrawals Due to Network Congestion

1 min read
Source: Cointelegraph
Binance Halts Bitcoin Withdrawals Due to Network Congestion
Photo: Cointelegraph
TL;DR Summary

Binance temporarily halted Bitcoin withdrawals due to congestion on the Bitcoin network caused by a surge in BRC-20 transactions, particularly for memecoins like Pepe. Bitcoin mempool had over 400,000 transactions waiting to be processed. Bitcoin transaction fees reached their highest point in two years, with a total of $3.5 million paid on May 3. BTC withdrawals on Binance have since resumed.

Topics:business#binance#bitcoin#cryptocurrency#memecoins#mempool#transaction-fees
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  1. Binance closes BTC withdrawals amid congestion on the Bitcoin network  Cointelegraph
  2. Bitcoin Network Congestion Causes Binance to Pause Withdrawals  CoinDesk
  3. Binance Pauses Bitcoin Withdrawals, Blames Network Congestion  Decrypt
  4. Binance resumes Bitcoin withdrawals after temporary closure  Reuters
  5. Just In: Binance Temporarily Suspends Bitcoin (BTC) Withdrawals  CoinGape

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