Coinbase experiences outages during Bitcoin’s price pull-back
A spokesperson for Coinbase made a brief comment to CNBC, telling the news service that the outages were caused by “high volume”. In its report on the story, industry news outlet Coindesk cited data from BitMex showing that nearly $250 million in volume changed hands “in a 5-minute period surrounding the initial price drop, with nearly $690 million in volume trading across 15 minutes after the drop began across its XBT/USD perpetual swap contract market”.
Coindesk also reported that trading application Robinhood had also seen issues with its crypto trading service.
At the time of writing (13:54 BST), the Bitcoin price stood at $11,823.80, according to data from cryptocurrency tracker Coinmarketcap. A staggering $44.2 billion worth of BTC coins have changed hands over the past 24 hours, according to the website.
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The post Coinbase experiences outages during Bitcoin’s price pull-back appeared first on The Independent Republic.
source: https://theindependentrepublic.com/coinbase-experiences-outages-during-bitcoins-price-pull-back/
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