The world’s largest cryptocurrency exchange by trade volume Binance, from time to time, he was faced with the reactions of Ethereum investors.
The untimely suspension of Ethereum transactions by the Binance cryptocurrency exchange drew the reaction of many.
Of course, in addition to this, high transaction fees were another point that attracted Binance’s reaction. Binance, on the other hand, is preparing to take an important step to change this.
Binance Adopts Arbitrum!
In the post published this morning by the Binance cryptocurrency exchange, it was emphasized that it will officially support Arbitrum.
Binance emphasized that it has completed the Arbitrum One integration and will support ETH deposits and withdrawals via Layer 2 from now on.
This step of Binance is definitely very important for Ethereum investors and transferring ETH over L2, where transaction fees are at the bottom, could change everything.
#Binance Completes Aribitrum One Integration and Opens Layer 2 $ETH Depositshttps://t.co/bZ2D1SVbHT
— Binance (@binance) November 19, 2021
In fact, on November 18, several investors saw hints about Arbitrum on Binance, and it was started to talk about whether this would happen.
Now, the expected has come and Binance now officially supports the Arbitrum One network. The integration, where only Ethereum deposits are supported for now, will also be used for withdrawals to the Arbitrum One network in the future.
Arbitrum is one of Ethereum’s most important L2 networks, and its use now by Binance highlights the importance of the Ethereum network’s steps towards scalability.
This development can be expected to ease the Ethereum network in the long run. The price is also expected to be positively affected by this.