Ethereum: What Does “Transaction Not Found” Mean on the Blockchain?
As a cryptocurrency investor, it’s natural to wonder what happens when you request a withdrawal or trade from your exchange account and the funds are not received in a timely manner. In this article, we’ll break down the concept of “Transaction Not Found” (TNF) on the Ethereum blockchain, including its possible causes and implications.
What is Transaction Not Found?
When you initiate a withdrawal request from your Gemini exchange account using the MetaMask wallet or other supported wallets, you are essentially sending a transaction to the Ethereum network. This transaction is broadcast to the open market, where it can be seen by other users on the Ethereum blockchain. However, if no one has received the funds within a certain amount of time (usually 10 minutes), it is considered a “Transaction Not Found” (TNF).
What does it mean?
Basically, “Transaction Not Found” means that there are no matching transactions on the blockchain that have been confirmed by a miner. In other words, your request is still being processed by the network, but it has not been matched to any existing transactions. This does not necessarily mean that the funds will never be received; instead, it is simply a case of waiting for them to appear on the open market.
Causes of Transaction Not Found:
Several factors can contribute to a “Transaction Not Found” situation:
- Network Congestion: As with any blockchain network, high transaction volume can lead to congestion, causing delays.
- Lack of Confirmation: If the amount requested is less than $25 (the minimum Gemini withdrawal amount) or if it is a small transaction, it may not receive immediate confirmation from the network.
- No funds in mempool: The “mempool” is the list of pending transactions on the blockchain. If your request is on this list but does not have enough confirmations to proceed, it will be marked as TNF.
Possible outcomes:
In most cases, if you wait four days for a withdrawal from Gemini and still have not received your Bitcoin on the receiving exchange BITTREX, the following outcomes are possible:
- No funds: The transaction may have been processed and confirmed by miners, but has not yet been matched to any existing transactions.
- Unconfirmed or pending:
In some cases, your request may still be in the mempool, waiting for additional confirmation to proceed.
Mitigating Factors:
To reduce the likelihood of encountering a “Transaction Not Found” issue:
- Wait a reasonable amount of time: Wait at least 10 minutes before checking to see if your withdrawal has been processed.
- Check your transaction history: Review your recent transaction activity on the Gemini platform to ensure you are not missing any confirmations.
- Monitor blockchain activity: Keep an eye on mempool and network activity to detect any issues early.
Conclusion:
In conclusion, “Transaction Not Found” is a normal phenomenon that can occur due to various factors, such as high transaction volume, lack of confirmation, or congestion on the Ethereum blockchain. While it may seem frustrating to wait four days for your withdrawal. from Gemini, there are steps you can take to mitigate this issue and ensure that funds reach the receiving BITTREX exchange in a timely manner.
Additional Resources:
For more information on Ethereum transactions and blockchain operations, consider exploring the following resources:
- Official Ethereum Documentation: <
- Gemini Exchange Support Page: <
- Bittrex Support Page: <