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Bitcoin $96,640.55 -1.94%
Ethereum $3,336.37 -5.53%
BNB $659.86 -4.40%
Optimism $1.74 -12.24%
Arbitrum $0.75 -10.78%
Solana $183.16 -8.18%
Polygon $0.48 -8.27%
Cosmos $6.52 -10.41%
Avalanche $37.55 -10.14%

Binance Temporarily Halts Bitcoin Withdrawals Due to Traffic Jam on Network

Binance, the largest crypto exchange in the world, has temporarily closed Bitcoin (BTC) withdrawals due to a high volume of pending transactions. The company announced the news on its official Twitter account, stating that its team is currently working on a fix and will reopen BTC withdrawals as soon as possible.

Despite the temporary closure, Binance reassured its users that their funds are safe. The move comes amid a major traffic jam on the Bitcoin network caused by an overwhelming number of unconfirmed transactions and a surge in minting and transferring of BRC20 tokens and Ordinal inscriptions.

We've temporarily closed #BTC withdrawals due to the large volume of pending transactions.

Our team is currently working on a fix and will reopen $BTC withdrawals as soon as possible.

Rest assured, funds are SAFU.
— Binance (@binance) May 8, 2023

Bitcoin $96,640.55

-1.94%

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Binance Temporarily Halts Bitcoin Withdrawals Due to Traffic Jam on Network

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