Can Coinbase keep up with the rally if Bitcoin tops $ 41,000?

Coinbase is under a microscope, and Bitcoin (BTC) price soars to over $ 41,000 after a slight drop after exceeding $ 40,000 on Thursday.

The US-based cryptocurrency exchange is known to experience serious connectivity issues during times of high trading activity. Indeed according to reports These disruptions have prevented traders from taking advantage of profits and declines in prices, depriving them of opportunities to rebound and re-enter.

As Cointelegraph recently reported, Coinbase acquired Routefire, a trade execution enhancement platform to better handle cryptocurrency peak times.

Can Coinbase keep up with the rally if Bitcoin tops $ 41,000?
Can Coinbase keep up with the rally if Bitcoin tops $ 41,000?

At the time of going to press, Coinbase has not yet reported any connectivity issues on its Exchange platforms. According to the status page, the company has identified and resolved the main cause of the service outage that occurred on Thursday.

Coinbase isn’t the only major exchange that is struggling with Bitcoin price rallies. Binance also routinely goes offline when BTC prints significant price increases. Changpeng Zhao, CEO of Binance, commented on the issue in December 2020, stating that Bitcoin price increases of 5% are often accompanied by a 30-fold increase in trading volume, which can cause problems. significant latency on the platform.

With Bitcoin rising above the $ 41,000 price mark, BTC is among the top 10 global assets. The market capitalization outperforms technology conglomerates like Facebook and Tencent. Via Tesla, Bitcoin must surpass the $ 1 trillion market cap milestone to overtake companies like Google and Amazon.

24-hour Bitcoin price chart. Source: CoinMarketCap

At the current market price, Bitcoin has risen by more than 40% so far this year and has almost quadrupled since the same period in 2020.

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