- The leading cryptocurrency exchange Coinbase has experienced some technical issues amid the Bitcoin price surge.
- After crunching all the myths, the king of the coin has upticked a price mark of $10,000 a few hours ago.
- As per the Coinbase status update, the exchange was facing increased latency
The leading cryptocurrency exchange Coinbase has experienced some technical issues amid the Bitcoin price surge. After crunching all the myths, the king of the coin has upticked a price mark of $10,000 a few hours ago. However, the US-based exchange was again out of function for about an hour.
Bitcoin notable price surge
Today, the top currency broke the $10,000 barrier after various repeated failed attempts. Moreover, several altcoins showed an upsurge movement as the total market cap got increased by around 5%.
On the other hand, at the peak time of a notable price pump, the crypto exchange Coinbase went offline. As per the Coinbase twitter update, the exchange was facing increased latency. It started the investigation at 16:14 PDT.
— Coinbase Support (@CoinbaseSupport) June 1, 2020
Coinbase Experienced Technical Issues Numerous Times
While the company has not revealed the exact problem behind this outage, it claimed that the issue was identified and fixed it within an hour. Along with this, the majority of people find it as a general website issue. But most of the users testified that they couldn’t even log in to their accounts.
Moreover, this is not the first time for the exchange to experience such technical problems. A few days ago when BTC dropped from approximately $10,000 to below $8,000, the platform went down. Later, Coinbase cleared that it was facing some connectivity issues. It also delayed the transfer of ETH and ERC-20 tokens due to network congestion.
Also, on April 29, the exchange met with connectivity issues during a Bitcoin price drop. Trades were stuck in accessing their accounts and funds again.
Meanwhile, Bitcoin has returned back with its best performance of $10,114.51 with a market capitalization of $186.03 at the time of writing this article.