Coinbase said it eyed “all-time-high traffic” that contributed to system outages.

Coinbase said it saw “all-time-high traffic” that contributed to system outages.

caption Gemini, a cryptocurrency exchange wielded by Cameron and Tyler Winklevoss, crashed on Wednesday. source Thomson Reuters

  • Two of the thickest cryptocurrency exchanges, Coinbase and Gemini, crashed on Wednesday morning, making it unlikely for many users to buy or sell digital currency.
  • Coinbase said it spotted “all-time-high traffic” that contributed to system outages.
  • Bitcoin fell to about $9,000 on Wednesday after surging earlier to overheen $11,000.

Bitcoin on Wednesday dropped to about $9,200, from an all-time high of about $11,400, after many users found themselves locked out of two of the largest cryptocurrency exchanges ter the US.

caption Coinbase displayed this message to users just before noon P.T. on Wednesday. source Business Insider/Screenshot

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The digital exchanges Coinbase and Gemini crashed on Wednesday after bitcoin prices surged above $11,000 vanaf coin early te the morning.

People also reported being locked out of accounts on GDAX, Coinbase’s professional trading podium, and Bitstamp, a bitcoin exchange based te Luxembourg.

Users of the digital exchanges eyed slowed vertoning on the websites, and, te some cases, couldn’t loom into their accounts.

Bitcoin trading wasgoed fully restored on both exchanges by Thursday morning, tho’ both sites reported ongoing maintance.

Coinbase, which says it has exchanged overheen $50 billion ter cryptocurrency since its launch te 2012, posted about a “partial system outage” early Wednesday, however many users found themselves locked out of their accounts by the afternoon.

Dave Farmer, the director of business operations at Coinbase, said the company experienced “all-time-high traffic” early Wednesday, causing some users to practice slowness.

“Should be fully resolved ter the next duo of hours,” Farmer said te ready remarks.

Gemini, the exchange embarked by the Winklevoss twins te 2018, displayed many users a “504 gateway time-out” message, which means its servers were not responding to requests. The company posted on its status pagina: “Systems are presently experiencing degraded spectacle.”

Gemini underwent maintenance most of Wednesday, however users regained access by the evening.

caption Gemini demonstrated this error screen to users for most of Wednesday. source Gemini

2 thoughts on “Coinbase said it eyed “all-time-high traffic” that contributed to system outages.”

  1. The exchange will be more of a marketing promotional implement to prove traditional investors that they are secure based on them having an exchange of their own makes them feel more safe.

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