How did the largest crypto exchanges react to Black Monday?

Today, June 13, 2022, many experts have dubbed "Black Monday". The price of bitcoin dropped to December 2020 levels. Due to high volatility, many exchanges have temporarily suspended withdrawals.

Binance has frozen the withdrawal of bitcoins for 3 hours. However, later reopened this possibility. Users submitted a huge number of applications, which led to an overload of functionality. Therefore, many withdrawal requests were processed within a few hours.

According to the CEO of the exchange, all user funds were safe as long as the market remained highly volatile.

Users of the Celsius platform were less fortunate. The withdrawal of funds on it has been frozen since Sunday. This is stated in the official blog of the platform.

As we wrote today, the cost of bitcoin has fallen to a critical minimum. According to CoinMarketCap, the price of BTC was $23.48 thousand. As for ETH, its price was $1230. However, on Uniswap, after the sale of 93,000 ETH by a whale, this cryptocurrency was trading at $950.

No other exchanges have suspended withdrawals yet. Kraken spokesman Pierre Rochard noted that withdrawals via the Lightning Network on Monday were 100% workable.

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