As volatility and volumes spiked, the infrastructure underpinning digital coin trading creaked under the strain. Futures exchanges saw a rash of electronically-triggered liquidations of leveraged positions, fuelling pressure on prices. Spreads between exchanges jumped. And at least two major exchanges went down, leaving investors locked out of the market for well over an hour.
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Crypto-market infrastructure creaks amid volatility test
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“Volatility is not an issue — it’s whether the technology can deal with the volatility.” said Denis Vinokourov at crypto exchange BeQuant.
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