• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Cryptocurrency

Binance Closes Withdrawal Portal Twice In Less Than 24 Hours As Bitcoin Falls

Binance is currently working on fixing the withdrawal portal and re-stakes its luck in capitalizing other valuable digital assets.

Emeka Eni by Emeka Eni
May 9, 2023
in Cryptocurrency
Share on FacebookShare on Twitter

 

Binance and its team of developers are currently working on a fix to decongest the crypto company’s network of digital assets and continue a seamless crypto exchange and trading service. The withdrawal portal is currently unavailable on the behemoth technology company due to the congestion on its cryptocurrency network that pends exchanging or transferring digital assets.

The unavailable withdrawal portal on Binance has sprung reactions from its users having disconnected users from being able to access funds. Users’ reactions to the crypto giant dysfunction in networking tokens have reportedly recorded another partial shutdown of the crypto network.

For context, this is the second time in less than a day withdrawal on Binance has been temporarily shut down due to the skyrocketed account for massive pending transactions impacted by Bitcoin’s depreciation. The crypto wallet service provider is cited to have recorded massive pending transactions on the large volume of tokens awaiting withdrawal while the flagship digital asset suffers loss.

Pending transaction and paused token network impacts scenarios where a FinTech solution faces challenges that hover around the “effect of customers satisfaction.” Binance promises to reopen the temporary portal closure for $BTC withdrawals, while the crypto behemoth struggles with the inevitable challenge of how to evade the Bitcoin-inflicted fiscal crisis by dropping its value.

 

On Sunday recorded the initial withdrawal portal closure that lasted for about ninety minutes after the crypto behemoth discovered glitches in the crypto market. Today, the closed withdrawal portal iterated on Binance after the hiked records of pending withdrawal requests that got the crypto service provider fidgety to temporarily close withdrawals to resolve the glitch.

A closed withdrawal portal was experienced twice in less than twenty-four hours on Binance. The second was recorded after the flagship token, bitcoin devalued by 3% which reflected on other digital assets. Bitcoin’s current net value is trading at $28,200 per token – this is not impacted by traders’ commerce operation in the crypto market but by the availability of purchased and held tokens in the blockchain network to determine hiked Bitcoin’s net value.

Binance is currently working on fixing the withdrawal portal and re-stake its luck in capitalizing the remainder of the valued tokens on its network as the flagship token has depreciated by 3%. While users await the withdrawal portal reopening, users can continue minting Non-Fungible Tokens, NFTs, on Binance – hopefully, the flagship token net value increase to appreciate other digital assets and NFTs.

Related Posts:

  • RT7YEBQ2Y5OTFAPMEIUUQSOKIE
    Binance Nigeria Is An Illegal Operations Per The SEC…
  • Patricia-Team
    Inside The Hack That Cost Crypto Exchange Patricia $2m
  • Roqqu-approved-in-SA
    Roqqu Has Set Up Cryptocurrency Exchange Operations…
  • This Latest Crypto Hack Sees $100 Million Worth Of…
  • adobestock_548367206_editorial_use_only
    Crypto Lending Platform Genesis Trading Cuts Off 30…
  • Binance Now Allows Naira Deposits And Withdrawals Irrespective Of The crypto Ban
    Binance Now Allows Naira Deposits And Withdrawals…
  • Nigeria And Binance In Talks To Launch Digital Economic Hub To Develop Blockchain Technology
    Nigeria And Binance In Talks To Launch Digital…
  • Binance Will No Longer Support The World's Second Biggest Stablecoin USDC And Others, Will Convert Them To BUSD
    Binance Will No Longer Support The World's Second…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: binanceBinance withdrawalCrypto marketcryptocurrency
Emeka Eni

Emeka Eni

I am a tech enthusiast, creating contents, graphic designer and am Africa.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Affiniti Raises $17M for AI-Powered Small Business Finance May 22, 2025
    • Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data May 22, 2025
    • Penfold, a Digital Pension Fintech Company Raises £3.9m May 22, 2025
    • Lagos Introduces Drone Monitoring To Increase Security May 22, 2025
    • Samsung Wallet Adds Tap-to-Transfer for P2P Payments May 22, 2025
    • MTN Launches MoMo Pay for Informal Payments Market May 22, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    Affiniti Raises $17M for AI-Powered Small Business Finance

    Affiniti Raises $17M for AI-Powered Small Business Finance

    May 22, 2025
    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    May 22, 2025
    Penfold, a Digital Pension Fintech Company Raises £3.9m

    Penfold, a Digital Pension Fintech Company Raises £3.9m

    May 22, 2025
    Lagos Introduces Drone Monitoring To Increase Security

    Lagos Introduces Drone Monitoring To Increase Security

    May 22, 2025
    Google Adds Anti-Theft Protection to Android Phones

    Samsung Wallet Adds Tap-to-Transfer for P2P Payments

    May 22, 2025
    MTN Launches MoMo Pay for Informal Payments Market

    MTN Launches MoMo Pay for Informal Payments Market

    May 22, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok