iBNB

<ul><li>Binance discontinues Bitcoin NFT support and urges withdrawals by May 18, indicating a strategic shift in its NFT marketplace offerings.</li><li>Data reveals diminishing trading volume and unique buyers, reflecting a broader decline in enthusiasm for Bitcoin-based NFTs.</li><li>Criticism over Bitcoin NFTs contributing to network congestion underscores scalability issues within the Bitcoin blockchain.</li></ul>Binance, a cryptocurrency exchange platform, has <a href="https://www.binance.com/en/support/announcement/binance-nft-update-on-bitcoin-nfts-2c2fb8f1f5e9421e8f777407a58df111" rel="noopener noreferrer nofollow">announced</a> the discontinuation of support for Bitcoin-based non-fungible tokens (NFTs). Users have been notified to withdraw their Bitcoin NFTs from the Binance NFT Marketplace before May 18, with future airdrop eligibility tied to NFTs hosted on the Bitcoin network being revoked.The decision comes amidst a backdrop of dwindling interest in <a href="https://cryptotale.org/bitcoin-nfts-make-a-comeback-fueled-by-nodemonkes-frenzy/" rel="noopener noreferrer nofollow">Bitcoin NFTs</a>, evidenced by multi-year lows in trading volume and unique buyer counts, according to data from non-fungible.com. Despite a brief resurgence towards the end of last year, the sector has struggled to maintain momentum, with various metrics signaling a decline in activity.Bitcoin NFTs, which are created through a process called inscriptions, have been criticized for causing network congestion on the Bitcoin blockchain. The congestion experienced in December highlighted vulnerabilities within the network, as noted by Bitcoin Core developer Luke Dashjr. Consequently, concerns over scalability and efficiency have been raised within the community.Read more : <a href="https://cryptotale.org/binance-ceases-support-for-bitcoin-nfts-urges-withdrawals-by-may-18/" rel="noopener noreferrer nofollow">Binance Ceases Support for Bitcoin NFTs, Urges Withdrawals by May 18</a>.Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Binance Ceases Support for Bitcoin NFTs, Urges Withdrawals by May 18

CryptoTale

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