QUICK LINKS

×
  • Tech - News - Blockchain Technology
  • Updated: May 19, 2021

Coinbase Partially Down As Cryptocurrency Nosedives

Coinbase Partially Down As Cryptocurrency Nosedives

(Photo Credit: TheSun)

Cryptocurrency exchange platform, Coinbase experienced a “partial” outage on Wednesday morning for its entire site and application. Also, both Coinbase and Binance are reporting issues specifically focused around withdrawals of Etherium and ERC-20 tokens this morning due to “network congestion.”

“We’re seeing some issues on Coinbase and Coinbase Pro and we’re aware some features may not be functioning completely normally. We’re currently investigating these issues and will provide updates as soon as possible,” Coinbase commented in a statement.

This is happening at a time huge cryptocurrency crash crashed over the past week that has witnessed the price of some of the most popular cryptocurrencies like Bitcoin, Ethereum and Dogecoin drop suddenly. Bitcoin has dropped almost 30 percent down to $31,000, Ethereum is down 40 percent to $2,424, and meme coin Dogecoin dropped almost 45 percent.

In its S-1 filing, Coinbase specifically noted that “abrupt changes in volatility or market movement can lead to extreme pressures on our platform and infrastructure that can lead to inadvertent suspension of services across parts of the platform or the entire platform.”

Related Topics

Join our Telegram platform to get news update Join Now
Lawrence Agbo
Lawrence Agbo

Lawrence is a vibrant digital journalist that loves creating SEO-focused content that drives busines...

More From this Author

LOCAL OIL PRICES

DPK - Kerosene

809.52 per litre 147.61

Last: 326.93 | Thursday 20, October 2022

AGO - Diesel

786.88 per litre 250.61

Last: 224.43 | Monday 31, October 2022

LPG - Propane Gas

4250 per litre 113

Last: 1995.35 | Monday 31, October 2022

PMS - Petrol

167.5 per litre 10.52

Last: 151.56 | Monday 31, October 2022
More Details

0 Comment(s)

SPONSORED

See this post in...