exchange doubled the commission for the withdrawal of ETH

Glassnode: BTC is evenly distributed between "whales" and retail investors

The cryptocurrency exchange has announced that it is doubling the ETH withdrawal fee. The company cited network congestion as the reason for the decision.

“To facilitate the withdrawal of ERC20 and ETH tokens during this period of high network congestion, we are temporarily changing the fees: when withdrawing ETH, the commission will be 0.006 ETH (previously it was 0.003 ETH), when withdrawing ERC20 tokens, the commission for withdrawal will be 0.01 ETH (previously it was 0.006 ETH). Withdrawals will resume shortly.”

This decision caused dissatisfaction among members of the cryptocurrency community, with many saying that such a commission is too large for traders. Among the replicas of users were the following:

“This is just a robbery”
“An absurd solution”
“Do you have problems with solvency?”
“A bunch of scammers”.

Others hope that this is only a temporary measure and blame centralization. Some users were not shy in their expressions:

“Centralized garbage dump”
“EOS will make ETH”
“Your greed knows no bounds”
“They just cheat customers for their own benefit”.

Over the past 24 hours, the Ethereum exchange rate has fallen by 30% and is trading around $124. The same trend is demonstrated by bitcoin and the entire cryptocurrency market.