Binance Paused Bitcoin Withdrawals Again, Bitcoin Congestion Persists

Binance paused Bitcoin withdrawals again due to the network congestion. Binance, the world's largest crypto exchange temporarily paused bitcoin withdrawals yesterday, then resumed withdrawals within two hours. However, the company just announced it has to pause Bitcoin withdrawal again.

The Bitcoin blockchain has become overwhelmed with pending transactions and high fees, with nearly 400,000 unconfirmed Bitcoin transactions recorded. The average transaction fee has also doubled since March, reaching a two-year high of just over $8. The adoption of the BRC-20 standard is driving fees up, causing this current fee spree to be an anomaly.