Binance Announces Plans To Integrate Lightning Network – May 9

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$27,745

Bitcoin price continues to range in the $27,000s following its weekend slide, as a head and shoulders pattern appears to form on the daily chart.

Top-20 altcoins have seen very small losses, as Ether falls less than 1%, BNB drops 1% and Tron is the sole gainer with a 1% gain.

Top Stories for May 9, 2022 🔥

👉 Binance Announces Plans To Integrate Lightning Network

Major exchanges, including Binance, Coinbase and several others are embracing the Bitcoin Lightning Network (LN) as a solution to high Bitcoin transaction fees.

The LN is a federated system for cheap, near-instant payments built on top of Bitcoin, which allows users to withdraw and send Bitcoin immediately from wallets, bypassing the congested Bitcoin blockchain.

Transaction fees on Bitcoin have soared over recent weeks due to “Ordinals” inscriptions, as well as the new “BRC-20” meme token craze.

👉 Voyager Plans To Liquidate Assets Following Failed Binance Deal

Crypto broker Voyager Digital has announced that it will liquidate some of its digital assets that cannot be withdrawn and return them to customers, after a deal to sell them to Binance.US fell through.

The liquidated assets include major cryptocurrencies such as Algorand, Celo, and Avalanche. A number of other cryptocurrencies will be returned to customers in digital form, but at a recovery rate of around 36%, according to a court filing.

The failed firm said on Twitter that it hopes initial distributions will begin within the next few weeks.

👉 Bittrex Files For Bankruptcy Protection Following SEC Charges

Bittrex Inc. filed for Chapter 11 bankruptcy protection on Monday, less than a month after being charged by the SEC for operating an unregistered exchange.

The company has assets and liabilities each estimated to be worth between $500 million and $1 billion and over 100,000 creditors. The bankruptcy filing will not impact Bittrex Global, which will continue operations as normal for customers outside the US.