Binance has just made an important announcement: from 18 May, all BETH crypto redeems within the exchange will be processed in just 5 days, significantly reducing the wait for users to redeem their ETH.
BETH represents a liquid version of Ethereum stakes on Binance, where users can use it as liquidity while waiting to redeem ETH from the Beacon chain.
Binance and the decision to reduce the wait time to redeem BETH crypto
As previously announced, Binance announced yesterday that as of 18 May at 08:00 UTC, all redemption requests for the BETH crypto, the liquid staking version of Ethereum, will be processed in just 5 days.
This is great news for users of the crypto exchange, as the average wait time to redeem stacked ETHs is currently around 15 days.
#Binance will reduce the processing time for $ETH Staking withdrawals to 5 days from the original 15 days.https://t.co/2cLwhAHp1m
— Binance (@binance) May 11, 2023
The decision to shorten the withdrawal processing timeframe is based on
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