During the market correction on the night of April 6, investors who wanted to withdraw funds using Solana (SOL) on Binance saw that their transactions were suspended for a short time. The leading cryptocurrency exchange explains why today in a new announcement…
Binance has stopped trading Solana
The world’s largest cryptocurrency exchange Binance has announced that it has temporarily suspended all withdrawals of Solana funds due to network problems, announcing that disruptions may occur in the coming days:
SOL output may be suspended from time to time depending on the network status. Binance is working with the project team to resolve these issues as soon as possible. We apologize for the inconvenience. If you have any questions regarding environmental issues, please contact Solana Customer Support.
In another update, the crypto exchange stated that it is aware of the current problems with the withdrawal of funds on the Solana network:
Binance is working with the project team to resolve these issues as soon as possible. More detailed information about the suspension of withdrawals currently remains scarce.
Solana (SOL) Liquidation Reaches $25 million
Crypto futures traders lost more than $400 million on Wednesday as most cryptocurrencies fell to new lows as stocks fell in response to the Fed’s planned rate hike. According to Coinglass, Solana futures have lost $25 million in liquidation losses over the past 24 hours. Solana, the sixth largest cryptocurrency by market capitalization, has lost more than 4% today. According to CoinMarketCap, the SOL network’s own token is currently trading at a price of just over $116.
According to Somagnews, the leading trading platform NFT OpenSea has integrated the Solana network. Earlier today, Twitter started noticing several NFT collections on the Solana platform appearing on the platform. The long-awaited integration did not come as a surprise to the NFT community. On March 29, OpenSea announced that it would start adding (minting) NFT collections that were minted in Solan in April.