Cryptocurrency exchange Binance halted bitcoin withdrawals for several hours on Monday (May 8), citing heavy volumes and a surge in processing fees, before clearing them at a higher cost. Late on Sunday and again early on Monday the world's biggest crypto exchange shut bitcoin withdrawals saying there was a glut of pending transactions because it hadn't offered so-called miners a...
Cryptocurrency exchange Binance halted bitcoin withdrawals for several hours on Monday , citing heavy volumes and a surge in processing fees, before clearing them at a higher cost.
The halt pushed bitcoin lower though its losses were marginal, with the cryptocurrency last down about 1 per cent to US$28,162 , its lowest in nearly a week. Gas fees refer to payments made to crypto miners whose computing power processes transactions on the blockchain.
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