Binance and other top crypto exchanges halted stablecoin deposits from the Solana (SOL) blockchain. The companies released an official statement claiming that the measure will be temporary, but it could have harmful implications for the SOL ecosystem. Related Reading: Bitcoin Reserve On Binance Sharply Rises, Whales Preparing For More Dumping? Solana (SOL) trades at $13.5, with a 5% loss in the last 24 hours and a 3% loss in the previous week. The cryptocurrency is recording significant losses across all timeframes due to the recent event surrounding FTX and the contagion impacting the crypto industry. Binance Halts Operations With Solana, Is This Blockchain In Danger? Binance, OKX, Bybit, and other top crypto exchanges took a similar measure. The platforms suspended operations with stablecoins USDC and USDT on Solana but failed to explain their decision to the users. For example, Binance posted the following message via its social networks and its official website: Fellow Binancians, Deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended until further notice. Thanks for your support! The crypto trading venue didn’t specify when ..
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