Binance has enabled withdrawals from Ethereum stacks
Binance has enabled withdrawals from Ethereum stacks
One of the largest international cryptocurrency exchanges, Binance, has activated the function of withdrawing funds from Ethereum stacks.
Clients of the site can now freely convert the synthetic asset BETH into ether at a ratio of 1:1. The platform has also launched commission-free trading in BETH/ETH and BETH/USDT pairs until May 10.
Binance's client deposits in stakes account for 5.5 percent of the total, according to ForkLog website.
Users of the cryptocurrency exchange also applied for a withdrawal of 192,074 ETH, which is about 20% of the total volume.
Currently, the average price in the stack is $2,137.
On Tuesday, April 18, the daily inflow into the ETH stack exceeded the withdrawal volume for the first time since the Shapella upgrade.
Launched in 2017, Binance is one of the largest cryptocurrency platforms in terms of daily platform turnover and number of active clients. For active traders, the exchange created the Maker/Taker rewards program, which offers additional rewards based on trading activity.
