Cryptocurrency exchange Binance has announced an increase of ethereum (ETH) withdrawal fees up to 0.006 ETH (previously Binance had 0.003 ETH withdrawal fees).
The exchange also claims it will increase ERC20 withdrawal fees up to 0.01 ETH from 0.006 ETH.
To better facilitate ERC20 and ETH withdrawals during this period of high congestion on the $ETH network, we are making the following temporary adjustments:
— Binance (@binance) March 12, 2020
ETH withdrawal 0.003 ETH is now 0.006 ETH
ERC20 withdrawal 0.006 ETH is now 0.01 ETH
Withdrawals will re-open shortly. pic.twitter.com/gN4s0GPzKB
Meanwhile, not everyone agreed with such an adjustment, calling the decision to increase fees amid market crash a "robbery."
This is a robbery
— Neo Neo ₿ 🥛 (@BekZokirov) March 12, 2020
Binance's decision to increase the withdrawal fees comes right after the market crash which was caused by bitcoin (EXANTE: Bitcoin) plunge through the $6000 support level down to $5660.
Previously iHodl reported that the price of bitcoin fell even more in several popular trading platforms. For instance, the BTC/USDT pair has fallen to $5500 on Binance, while the BTC/USD pair dropped to $5,578 on Coinbase, while on BitMEX it slid to $5,600.
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