Moreover, the major cause was the talk regarding Alameda contemplating the sale of its SOL assets. A wave of panic selling hit the cryptocurrency market as news of the FTX crash spread. Both OKEx and Bybit, along with, have declared that they would be suspending USDC and USDT deposits immediately.įurthermore, since the FTX breakdown started two weeks ago, Solana (SOL) has been hit hard due to the exchange’s dependence on the blockchain. Adding to the list of prominent cryptocurrency exchanges that have halted Solana transactions, Binance has done the same. Several Exchanges Suspend SOL Depositsīinance, the world’s largest cryptocurrency exchange, has announced it will be temporarily halting deposits of USDC (SOL) and USDT (SOL). The Web3 ecosystem flourishes with the emergence of blockchains such as Binance Smart Chain (BSC). In the previous week, the value of FTX tokens plummeted by 95 percent. While Bitcoin (BTC) price is at $16,523, the FTX Token (FTT) price is now at $1.59, up 0.98% in the previous 24 hours. Over the last week, cryptocurrency values have plummeted due to the FTX breakdown and subsequent bankruptcy declaration. This recent blow to SOL just makes a bad bear market more drowning. According to CMC, the price of Solana (SOL) went down all the way up to $13.08. The price of SOL decreased by 4% following the news.

After this news, the price of Solana ( SOL) has fallen significantly. highlighted recent industry developments for the decision. This comes after blocked USDC and USDT withdrawals and deposits for Solana. Temporarily, Binance has stopped accepting deposits of USDC (SOL) and USDT (SOL) from users. This comes after blocked USDC and USDT withdrawals and deposits for SOL.The major cause was the talk regarding Alameda contemplating the sale of its SOL assets.

Does binance support solana