Binance News: Binance, the world’s biggest crypto exchange shared an update on the pending Bitcoin (BTC) transactions. The exchange announced that after resuming withdrawals, all pending BTC withdrawal transactions have now been processed.
Also Read: Binance Bitcoin Withdrawals Halts Leave Crypto Stocks Tumbling
Binance Enabled BTC Lightning Network Withdrawals
The world’s biggest crypto exchange in a Tweet stated that all unresolved withdrawal transactions were completed. It added that their team is already implementing solutions to make sure this doesn’t repeat again.
Earlier, Binance reported that Withdrawals were turned active on the exchange. While pending transactions were processed by replacing them with higher transaction fees. In order to avert such incidents in the future, the fees were being adjusted.
However, it added that the exchange will be enabling Bitcoin lightning Network withdrawals which will provide support ahead in situations like this. Meanwhile, the exchange called it a learning opportunity and claimed to prevent this ahead. Read More Binance News Here…
Also Read: Bull Market Issue; CZ Addresses Bitcoin Withdrawals Issue
Changpeng Zhao (CZ), Binance boss commented on the recent fiasco. He stated that gas prices fluctuate and jump, while transactions get stuck, fees go up and people complain. He tagged this situation as a bull market issue.
(THIS IS A DEVELOPING STORY)
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.