Binance crypto withdrawals return to normal following system backlog

The company announced a halt in withdrawal activity via their official Twitter account on Monday morning which lasted for just over 2 hours.

View Details

Bitcoin Transaction Backlog Shrinks, but Over 289,000 Still Await Confirmation

Although Bitcoin’s network transaction fees have decreased and a portion of the unconfirmed transfer backlog has diminished, the protocol still grapples with over 289,000 transactions awaiting confirmation. As of this writing, more than 218 blocks must be processed to fully alleviate this congestion. Bitcoin’s Lingering Transaction Backlog Data collected on May 20, 2023, at 1:35 [...]

The post Bitcoin Transaction Backlog Shrinks, but Over 289,000 Still Await Confirmation appeared first on Crypto Breaking News.

View Details

Circle clears ‘substantially all’ minting and redemption backlog for USDC

Stablecoin issuer Circle has announced it has cleared “substantially all” of the backlog of redemption requests for its stablecoin USD Coin (USDC). In a March 15 operational update, Circle said between the morning of March 13 to the close of business on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC. [...]

The post Circle clears ‘substantially all’ minting and redemption backlog for USDC appeared first on Crypto Breaking News.

View Details

Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to [...]

The post Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion appeared first on Crypto Breaking News.

View Details

A ‘Tremendous Variety of Possible Transaction Types’ — A Look at the Conversation Between Nakamoto and Andresen

The Bitcoin mempool, otherwise known as the network’s transaction backlog, is still clogged with over 390,000 transactions waiting to be processed by miners. To clear the mempool, more than 190 blocks need to be mined. As the scaling issues continue to plague the network, a conversation between former Bitcoin developer Gavin Andresen and the network’s

The post A ‘Tremendous Variety of Possible Transaction Types’ — A Look at the Conversation Between Nakamoto and Andresen appeared first on BTC Ethereum Crypto Currency Blog.

View Details

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees

In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current [...]

The post Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees appeared first on Crypto Breaking News.

View Details

Bitcoin Fees Decrease, But Over 257,000 Pending Transactions Await Confirmation

Although the Bitcoin blockchain’s average transaction fees have decreased since surpassing $30 per transfer on May 8, there are still over 257,000 pending transactions awaiting confirmation. Furthermore, from May 1 onwards, the network has successfully verified anywhere from 355,000 to over 682,000 transactions per day. Presently, approximately 188 blocks or 0.343 gigabytes must be mined [...]

The post Bitcoin Fees Decrease, But Over 257,000 Pending Transactions Await Confirmation appeared first on Crypto Breaking News.

View Details