Binance cuts cryptocurrency withdrawal procedures, Ethereum withdrawal rate drops by 70%

Cryptocurrency exchange Binance announced that it has reduced withdrawal fees for Bitcoin and Ethereum. The BTC withdrawal fee has been reduced from 0.0005 BTC to 0.0004 BTC, the ETH withdrawal fee has been reduced from 0.01 ETH to 0.003 ETH, and the ERC-20 token withdrawal fee will be adjusted simultaneously. Binance stated that it will periodically adjust the withdrawal fee according to the situation of the blockchain network.