Binance Adjusts Fees and Integrates Lightning Network to Resume Bitcoin Withdrawals Amid Network Congestion.

1 min read
Source: CoinDesk
Binance Adjusts Fees and Integrates Lightning Network to Resume Bitcoin Withdrawals Amid Network Congestion.
Photo: CoinDesk
TL;DR Summary

Binance has resumed bitcoin withdrawals after a second pause due to unprecedented congestion on the Bitcoin network. The exchange has adjusted its fees and is integrating Lightning Network withdrawals to prevent similar occurrences in the future. The number of unconfirmed transactions has decreased from a high of 500,000 to just over 430,000 over a 12-hour period. The price of bitcoin continues to decline and is currently at $28,240. Binance has significantly slid in its position for bitcoin trading volume and is no longer in the top 10 exchanges for bitcoin trading pairs.

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