Binance does not withdraw BNB! What is the problem of the exchange?
Binance is the largest digital exchange and one of the most significant platforms in the crypto industry today. Every day, multimillion-dollar transactions are concluded on this site, hundreds of thousands of blockchain fans use the platform’s functionality. And many of them know that Binance has its own digital currency. The platform manages the asset BNB, which, however, cannot be taken off-site at the moment. Next, we will tell you what is the reason for the failures with transactions. So if you are interested in Binance or simply cannot get your own BNB, read carefully. The material requires a responsible approach. So let’s get started.
What is the problem?
First, note that it is unusual for Binance to suspend withdrawals. The platform works like a good Swiss watch and has a reputation for it. So today’s situation is an exception to the rule. And what is the situation? Everything is quite simple – the platform does not yet display transfers associated with the site’s internal token. The site faced phenomenal stress. Representatives of the company, in particular the chief director of the organization, note that the exchange has faced phenomenally high rates of user activity. And the platform just couldn’t stand it.
To better understand the specifics of the problem, it is enough to know that, compared to last month, the rate of BNB withdrawal has grown 10 times. This is a record attention to the platform’s token and, accordingly, record loads. So all transfers from BNB have been suspended for now. But the company’s specialists are already working on a solution to the platform. Next, we will tell you how to be simple users who are faced with these circumstances.
What should BNB owners do?
The first but not the only piece of advice is don’t panic. There is no reason to worry. Your funds are completely safe, but they simply cannot go beyond the platform servers. Representatives of the organization note that they apologize for the inconvenience. Perhaps the reason for the inability to handle such high traffic is the recent burning of a huge number of BNB tokens. Recall that just a few days ago, the Binance platform held a rather interesting event – burning its own tokens. Note that by doing this, representatives of the organization regulate the number of active coins in users’ turnover. The amount of the last burning was about $ 600 million.
Thus, the creators of the coin stir up interest in their own coin. And, of course, they regulate the value of the asset. After all, the more coins are in circulation, the lower the potential price tag for a digital means of payment. Recently, BNB has been showing phenomenal productivity and delighting its own users. It is possible that the time has come to study this asset in detail and consider the possibility of acquiring this coin.
Update:
At the moment, it became known that the platform has resumed withdrawing funds in an internal token. Based on the current situation, users can again safely transfer funds. Thus, Binance once again demonstrated its own ability to quickly respond to emergency situations and resolve them in favor of a trusting audience. It is the instant reaction to atypical situations that sets Binance apart from its many competitors. So feel free to use the functionality of this platform. It is a reliable digital platform that guarantees stable operation and instantly resolves any deviations that arise.
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