Binance, which is an exchange that provides a platform for the trading of various cryptocurrencies, announced in the past hours that they are experiencing withdrawal problems for Solana, one of the most popular assets of the last period. The platform also shared the cause of the problem with its users.
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Binance: Solana network congested due to surge in transactions
As you know, the popular cryptocurrency Solana (SOL), which has become widespread recently, is on the agenda with the news of frequent blockages in its networks. The reason for this is that the said asset is increasing in popularity day by day and is preferred by investors.
In fact, the crypto money, which appeared with a blockage in its networks three days ago, came to the fore with a wider problem this time. The famous crypto exchange Binance has recently announced that there is a problem with withdrawals specific to altcoins and that transactions will be paused from time to time.
Here is that explanation;
The Solana (SOL) network is currently experiencing congestion due to the huge increase in high-computing transactions, which reduces the network capacity to several thousand transactions per second and causes users to encounter some unsuccessful transactions. Withdrawals on Binance via the Solana (SOL) network may be paused from time to time to clear congestion. We are actively working on the issue to ensure a stable, long-term solution. We apologize for any inconvenience.
risk warning : Cryptocurrency trading is subject to high market risk. Please do your transactions carefully. You are advised that Binance is not responsible for your trading losses. Thanks for your support! Binance Team
Solana, which started to rise in August of last year and managed to surpass even the crypto currency Dogecoin, which Elon Musk did not say his name in September, reached the level of 260 dollars at the beginning of November, making its investors very happy.
On top of that, the altcoin, whose rise slightly decreased, is currently trading at $ 136. The total market capitalization of cryptocurrencies is around $42 billion.
So what do you think about this subject? Can Solana (SOL) go even higher in the cryptocurrency market? Do not forget to share your views with us in the comments section.