Home
News
- Dogecoin price boomed massive 800%, hitting $0.08, crashing numerous exchanges in the crypto ecosystem
- ChangeNow was the last exchange to stand intact; however, its provider grew overloaded and got stuck the next morning
- However, ChangeNow assured users to complete all frozen transactions at the originally ordered prices
In the wake of industry-wide exchange delays on DogeCoin transactions, the Changenow exchange has taken the unprecedented step of processing all delayed transactions at the prices at which the transactions were originally ordered!
Doge To The Moon
Dogecoin illustrated a massive bull rally of 800%, making an all-time high of $0.08 on January 29, 2021. The WallStreetBet Community-powered the asset on Reddit while Elon Musk accentuated it on Twitter.
The ChangeNOW exchange, including all other crypto platforms, had to deal with this massive jump in the asset’s trading activity. After the surge in coin price, many exchanges disabled Dogecoin transactions, but ChangeNOW remained the only marketplace where DOGE could be bought at its highest price points! However, concluding from the posts on their Exchange’s Trustpilot, many users ended up having difficulties in transactions.
ChangeNow: The Last Warrior
Amid all the industry exchanges that got squeezed with DOGE transactions on the day, ChangeNOW proved to be the last warrior alive. At about 3 AM, the team had to switch the reserve node of their liquidity provider. However, at morning 9, their provider grew overloaded and got stuck. The exchange reacted to the situation and pledged to complete all frozen transactions at the promised price by introducing a fixed DOGE rate.
ChangeNOW CMO Pauline Shangett released a statement on the Exchange’s decision:
“This is the second time in six months that the price of Dogecoin has undergone extreme volatility. As soon as we realized that we were the last Exchange still supporting DOGE transactions, we discussed the situation and immediately decided – if our network is unable to handle the extra volume, we will have to support our users.“
ChangeNOW is a non-custodial service created for simple and fast cryptocurrency transactions. The platform also offers 24/7 customer assistance, and the exchange is easy to use!
Freakish Decision By The Exchange
This decision is unprecedented and freakish among crypto exchanges around the globe! Due to Dogecoin’s price volatility, the company will incur huge losses; still, the team endeavors to provide a blue sky for the crypto community and prevent them from money loss wounds!
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
