Binance today allowed its customers to withdraw their bitcoin deposits again.
Bitcoin withdrawals possible again; Image: The Economic Times
The crypto trading platform Binance stopped Bitcoin withdrawals on Sunday and Monday. The reason for this outage were high fees and a high withdrawal volume.
The reason why the fees increased is that miners were not offered high rewards to log the transaction in the blockchain. According to data from CoinMarketCap, the trading volume of bitcoin on the platform was $6.9 billion.
To prevent such an event in the future, Binance raised the fees. The corporation has no information yet what led to the large withdrawals. This is because the large trading volume caused gas fees that were larger than usual.
