Binance temporarily suspends Solana withdrawals due to high transaction volume, aiming to fix issues and resume on March 9.
Solana token experiences a slight decline in price following withdrawal suspension but remains resilient, showing a 17% weekly increase.
Binance, the world’s leading cryptocurrency exchange platform, has announced a temporary suspension of withdrawals to the Solana (SOL) network. The Solana network’s transaction volumes have significantly increased, causing sporadic performance concerns and prompting this decision. This move aims to address the challenges posed by the surge in activity and ensure the stability and reliability of the withdrawal process for users.
The ban on withdrawals from the Solana network started on March 4, 2024, according to a statement made public by Binance. The exchange is actively implementing a long-term solution, which has identified areas for optimization. In order to give customers a stable and easy withdrawal process, Binance pla

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