Binance closes BTC withdrawals amid congestion on the Bitcoin network
This is an establishing story, and additional information will be included as it appears.
Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed at the time of composing. The trading craze on memecoins like Pepe (PEPE) drove Bitcoin deal charges to their highest point in 2 years. Established after Ethereums ERC-20 token standard, BRC-20 is an experimental token standard recently introduced that enables users to produce and transfer fungible tokens on the Bitcoin blockchain.
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