On Monday, due to severe losses in Bitcoin and many digital assets, some crypto asset exchanges encountered difficulties. During the period of volatile price fluctuations, traders have been complaining about issues with exchanges such as Coinbase, Kraken and other trading platforms.
On Monday, the value of Bitcoin (BTC) and many other cryptocurrencies fell. When all actions took place, members and traders of the cryptocurrency community began to complain about trading problems.
The Block analyst Larry Cermak (Larry Cermak) “In these high volatility conditions, Coinbase’s performance really won’t get worse” Tweet Monday morning (EST). In the past Sunday (January 10) and Friday (January 8), digital currency exchanges also encountered the problem of not being able to keep up with demand and traffic.
In another case on Monday, analyst Willy Woo tweeted about the San Francisco exchange Coinbase and statement “The purchase on Coinbase is not complete. Woo added that during the Bitcoin (BTC) price drop at around 11:37 AM (Eastern Time) on Monday, Woo added:
Coinbase is currently $350 lower than other exchanges, it has abandoned derivatives indexes and may affect trading algorithms.
According to the company’s status page, at the time of launch, Coinbase seemed to have no issues today. However, in the past two days, the San Francisco trading platform has had the problem of “transmission delay”, while the previous day suffered from “transmission delay and increased error rate”.
The Twitter account representing Coinbase’s support also posted a tweet about the incident on Monday.
“We are investigating an issue affecting transactions on Coinbase.com and the mobile app,” the company write. “Recently activated transaction records may be delayed in your Coinbase account. Completing some purchases on the platform may still have some problems. Please do not resubmit your transaction-this will cause repeated activity.”
An hour later, Coinbase said that a fix has been released and the problem has been resolved. During Monday’s trading hours, Coinbase was not the only exchange that issued shares.Cryptocurrency traders also complain About siren go Offline And temporary time.
As far as Woo is concerned, when he said that price differences would abandon trading algorithms, some cryptocurrency supporters Said The industry will make better use of Oracle-based price feeds, and exchanges such as Coinbase should consider adding protocols such as Chainlink.
What do you think about the exchange problems when prices fluctuate? Let us know your thoughts on this topic in the comments section below.
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