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Coinbase stopped working when the Bitcoin price skyrocketed

April 30, 2020

The main U.S. cryptocurrency exchange, Coinbase and its professional trading platform, Coinbase Pro, recently struggled during the rise in Bitcoin (BTC) prices.

Coinbase and Coinbase Pro showed “partially deteriorated service” on April 29, according to a statement in Coinbase Pro.

“Coinbase fell as Bitcoin’s price rose today”, tweeted Anthony Pompliano, co-founder of Morgan Creek Digitalon April 29 at 1:37 p.m. EST.

Bitcoin rose by almost $ 9,000

Coinbase stopped working when the Bitcoin price skyrocketedCoinbase stopped working when the Bitcoin price skyrocketed

After reaching the lowest current price near $ 3,600Bitcoin has recovered significantly. The largest fortune in the cryptocurrency market rose more than $ 1,000 on April 29with a high of just under $ 9,000.

“A solution has been implemented and we are monitoring the results.”, showed a note at the time of publication. “There are connection problems with Coinbase Pro web and mobile apps.”, after an update on the status of the platforms.

Exchanges sometimes crash when prices change

Several cryptocurrency exchanges have had similar difficulties in recent years in times of drastic price movements. Coinbase has seen such difficulties multiple times.

Recently exchanged the crypto derivatives, BitMEX reported difficulties so often that users flagged the condition as “BitMEX Overload”.in terms of a plethora of users who are hindering the system.

At the time of publication Cointelegraph found that the Coinbase Pro service was working properly.

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