Binance Announces Suspension of transactions on these two altcoins


The world’s largest crypto exchange Binance has temporarily suspended the operation of 2 altcoins due to a shortage of tokens.

Binance suspends Solana (SOL) and Apecoin (APE) transactions

According to Chinese crypto correspondent Wu Blockchain, the APE lending page warns that the remaining amount for lending APE tokens is not enough due to excessive demand. Demand for APE has increased dramatically ahead of the release of the long-awaited Yuga Labs Otherside metaverse. According to Wu Blockchain:

Binance has suspended the APE lending function, and the page shows that due to excessive demand, there is not enough remaining APE available for lending. Coinglass data shows that APE has been the most liquid coin outside of BTC and ETH over the past 24 hours.

Demand for APE is growing rapidly ahead of the long-awaited launch of the Yuga Labs metaverse

According to Coinglass statistics, Apecoin has become the third most liquid currency in the last 24 hours. About $5.62 million APE has been liquidated in the last 24 hours. The reason for the high demand is due to the recently launched Binance action ApeCoin, which we wrote about in the Somagnews news. According to the data, APE worth about $5.62 million has been withdrawn from the market in the last 24 hours. Meanwhile, APE trading volume increased by more than 300% in 24 hours. Due to a similar development, another coin that could not be temporarily sold was Solana (SOL).

Binance suspends withdrawal of Solana (SOL) funds

According to an announcement made by Binance during the day, “withdrawals on the Solana (SOL) network have been suspended several times since 04/25/2022 (UTC) due to the large volume of withdrawals generated by empty transaction ids.” As soon as it is confirmed that transactions on the network have not been successful, the corresponding withdrawal requests will be rejected. The whole process is expected to take at least four hours. The project team continues to actively work on providing a stable and long-term solution to reduce operational errors and improve user interaction. When there is development in this regard, the stock market will make new announcements.