Binance, the world's largest cryptocurrency exchange, announced that all pending Bitcoin withdrawals have taken place.
“All pending BTC withdrawals are now processed.
Thank you once again for your patience and our team is already implementing solutions to ensure this doesn't happen again."
All pending $BTC withdrawal transactions have now been processed.
Once again, thank you for your patience and our team is already implementing solutions to make sure this doesn't happen again. https://t.co/tY7S8R3U9d
— Binance (@binance) May 8, 2023
What Happened?
Publishing an announcement on Sunday, Binance announced that it was suspending BTC withdrawals.
Binance's suspension of BTC withdrawals caused a brief panic, but it turned out to be related to the congestion caused by the BRC-20 tokens in the network.
Binance announced that withdrawals resumed in the morning according to current transaction fees.
With the announcement made a short time ago, it was reported that all BTC withdrawals were processed.
The fee currently paid for transfers on the Bitcoin network is about $ 20, compared to $ 1.2 last week.
Binance CEO CZ stated that the congestion in the Bitcoin network is a sign of a bull market.
*Not investment advice.
