Why is poolin wallet suspending Bitcoin and ether withdrawals?

Poolin, one of the world's biggest crypto mining pools, is suspending bitcoin and ether withdrawals from its wallet service due to "liquidity problems." From a report: "As you may have known, Poolin Wallet is currently facing some liquidity problems due to recent increasing demands on withdrawals.

Why did poolin suspend withdrawals?

Poolin, one of the world's biggest crypto mining pools, said Monday that it would suspend bitcoin and ether withdrawals from its wallet service due to "liquidity problems." The post Withdrawals frozen at crypto mining firm Poolin amid ‘liquidity problems' appeared first on The Block. Crypto Pump and Dump.

What are liquidity pools in crypto?

As such, liquidity pools are used by Automated Market Markers (AMM) to minimize drastic price changes ( volatility) on crypto exchanges. This characteristic makes liquidity pools ideal for new coins or tokens that do not have a large user base. Bancor and Uniswap are among the most popular services to use liquidity pools.

What's going on with Crypto withdrawals?

The Beijing-based company is among the latest industry firms to suspend withdrawals due to liquidity problems amid this year's decline in crypto asset prices. Lenders Voyager Digital and Vauld both halted withdrawals in July.