Binance has confirmed that there are issues affecting Solana (SOL) withdrawals. In a notice on its website, Binance warns that the Solana (SOL) network is currently experiencing congestion due to an increase in high compute transactions, which is reducing its network capacity to several thousands of transactions per second and leading to some failed transactions for users.
Withdrawals on Binance via the Solana (SOL) network may be paused from time to time to clear the backlog.
Below is the full announcement:
“Notice Regarding the Solana (SOL) Withdrawal Issue
2022-01-11 09:05
Fellow Binancians,
The Solana (SOL) network is currently experiencing congestion due to an increase in high compute transactions, which is reducing its network capacity to several thousands of transactions per second and leading to some failed transactions for users. Withdrawals on Binance via the Solana (SOL) network may be paused from time to time to clear the backlog. We are actively working with the project to provide a stable, long-term solution. We apologize for any inconvenience.
For further information, please refer to the following: The Solana Network Status Update
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Thanks for your support!
Binance Team”