The major US cryptocurrency exchange Coinbase and its professional trading platform, Coinbase Pro, collapsed during the incredible Bitcoin (BTC) pump.
Coinbase and Coinbase Pro experienced problems with their services on April 29, according to a message from Coinbase Pro.
“Coinbase collapsed at the same moment that Bitcoin fired up, ” Morgan Creek Digital co-founder Anthony Pompliano said on April 29.
Bitcoin shot close to $ 9,000
After registering its last bottom near $ 3,600, its price has increased significantly. The price of the largest asset in the cryptocurrency market jumped nearly $ 1,000 on April 29, touching almost $ 9,000.
“A correction has been introduced and we are monitoring the results. Coinbase Pro’s web and mobile apps are having connectivity issues , “the company said.
Stock exchanges sometimes fall during major price changes
A number of crypto exchanges have faced similar difficulties in recent years during a drastic price movement. Coinbase itself has encountered such difficulties many times.
In the past, the BitMEX cryptocurrency exchange encountered difficulties that occurred so often that users referred to this phase as “BitMEX overload”, referring to the excessive number of users crashing the system.