Binance has paused the withdrawal of SOL cash by way of Solana Community after it recorded a excessive withdrawal quantity. The transfer comes as Donald Trump launched TRUMP meme coin on Solana, taking the liquidity from different tokens within the crypto market right this moment.
Binance Halts Solana (SOL) Withdrawals Briefly
Binance’s buyer assist on X said that the platform was replenishing the recent pockets for SOL withdrawal by way of the BSC Community. The incident got here to gentle after a Binance consumer posted their query on X, asking the platform why it was not permitting SOL withdrawals.
SOL withdrawals in excessive quantity might be a end result of enthusiasm across the meme coin and a surge of 11.23% in its token worth over the previous 24 hours.
An elevated enthusiasm round SOL is probably going the results of the launch of TRUMP meme coin which is now dwell on Solana. It may be purchased utilizing a debit card or a cryptocurrency.
In the meantime, Binance has requested customers to register to obtain notifications when SOL withdrawals resume. The platform has not given a timeline however the withdrawal operate ought to resume quickly.
SOL price is now at $236.38, which additionally displays an uptick of 26.90% within the final 7 days and a rise of 12.39% within the final 1 month. The 24-hour buying and selling quantity has jumped by 57.02%, with a rise of 11.19% out there cap.
Coinbase Notifies Affect on SOL Withdrawals
In response to a Coinbase update, some customers could also be experiencing delays in sending or receiving SOL tokens. Nevertheless, buys, sells, and fiat withdrawals or deposits haven’t been affected thus far. Coinbase has said that it’s investigating the problem and can present an replace on the matter on the earliest.
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