The world’s largest cryptocurrency exchange, Binance, temporarily suspended the transactions of 2 altcoins due to token shortages.
Binance suspends Solana (SOL) and Apecoin (APE) transactions
According to Chinese crypto correspondent Wu Blockchain, the APE lending page has insufficient remaining amount for APE token lending due to excessive demand. gives a warning that it is. Demand for APE exploded ahead of the release of Yuga Labs’ widely anticipated metaverse, Otherside. According to Wu Blockchain:
Binance has suspended the APE lending function and the page shows that due to excessive demand, there is insufficient remaining amount of APE available to lend. Coinglass data shows that APE has been the most liquid coin outside of BTC and ETH in the past 24 hours.
APE request burst before Yuga Labs’ highly anticipated metaverse launch
According to Coinglass statistics, Apecoin was the third most liquid currency in the last 24 hours. In the last 24 hours, approximately $5.62 million of APE has been liquidated. The reason for the demand intensity is due to the ApeCoin promotion that Binance has recently launched, as we have covered in the news of Kriptokoin.com. According to the data, approximately $5.62 million worth of APE has been withdrawn from the market in the last 24 hours. Meanwhile, APE’s $7.4 Billion 24-hour trading volume increased over 300%. Due to a similar development, another coin that could not be traded temporarily was Solana (SOL).
Binance suspends Solana (SOL) withdrawals
According to an announcement made by Binance during the day, “withdrawals on the Solana (SOL) network, due to the high volume of withdrawals generated by empty transaction IDs, are 25/ Suspended several times since 04/2022 (TCC)”. Once the on-chain transactions are confirmed to have failed, the respective withdrawal requests will be denied. This entire process is expected to take at least four hours. The project team continues to work actively to provide a stable and long-term solution to reduce operational errors and improve user experience. A new announcement will be published when there is a development in this regard.
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