Coinbase was dragged offline this week by the massive increase in traffic and crypto interest. Users were unable to trade and often unable to use the website or app at all.
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Even the world’s largest bitcoin exchange couldn’t handle this week’s cryptocurrency boom
“The market cap of digital currencies has increased ~50 percent to $91 billion in the past week. As a result, Coinbase has seen a dramatic increase in traffic and trading volume,” the company told TechCrunch in a statement. “The Coinbase engineering and support teams have been working round the clock to keep up with this unprecedented volume. However, Coinbase.com has suffered a few outages, including degraded performance and deposit/withdrawal delays for some users. We are actively working on resolving these issues and restoring our site to normal performance,” it added.
