Binance Pulls The Plug: Token Deposits Suspended Due To Multichain Mayhem
Portfolio Pulse from Murtuza Merchant
Cryptocurrency exchange Binance has temporarily halted deposits of 10 specific tokens due to ongoing problems with the Multichain Bridge initiative. The suspension affects tokens used on the BNB Smart Chain, Fantom, Ethereum, and Avalanche blockchain networks.
May 25, 2023 | 6:19 pm
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NEGATIVE IMPACT
Binance suspends deposits of tokens used on Avalanche network due to Multichain Bridge issues.
The suspension of token deposits on Binance due to Multichain Bridge issues directly impacts the Avalanche network, which could lead to a short-term negative effect on AVAXUSD.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Binance suspends deposits of tokens used on BNB Smart Chain due to Multichain Bridge issues.
The suspension of token deposits on Binance due to Multichain Bridge issues directly impacts the BNB Smart Chain, which could lead to a short-term negative effect on BNBUSD.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Binance suspends deposits of tokens used on Ethereum network due to Multichain Bridge issues.
The suspension of token deposits on Binance due to Multichain Bridge issues directly impacts the Ethereum network, which could lead to a short-term negative effect on ETHUSD.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Binance suspends deposits of tokens used on Fantom network due to Multichain Bridge issues.
The suspension of token deposits on Binance due to Multichain Bridge issues directly impacts the Fantom network, which could lead to a short-term negative effect on FTMUSD.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Multichain Bridge issues affect Kava network, with cross-chain bridge routes yet to be restored.
The ongoing Multichain Bridge issues have affected the Kava network, with cross-chain bridge routes still not restored. This could lead to a short-term negative effect on KAVAUSD.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Multichain Bridge issues affect Polygon network, with cross-chain bridge routes yet to be restored.
The ongoing Multichain Bridge issues have affected the Polygon network, with cross-chain bridge routes still not restored. This could lead to a short-term negative effect on MATICUSD.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50