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    Coinbase exchange crashes as Bitcoin price peaks above $64,000

    Source Fxstreet
    Feb 28, 2024 18:43
    • Bitcoin price soared to an intra-day high of $64,000 before a quick correction
    • Amid excessive trading Coinbase exchange crashed, with users reporting zero balance
    • Coinbase exchange acknowledged the incident, committing to resolve the matter.

    Post-traumatic stress from the FTX cryptocurrency exchange debacle has crypto investors on the edge of their seats on Wednesday after Coinbase exchange crashed, with users reporting zero balance on their accounts.

    Also Read: Bitcoin shatters $63,000 as Jim Cramer posses a rhetoric on BTC value for mankind

    Coinbase exchange goes down

    Amid the trading frenzy on Wednesday, which saw Bitcoin price rise to scrape $64,000, Coinbase, the largest crypto exchange in the US, crashed. Co-founder and CEO of the trading platform, Brian Armstrong acknowledged the incident, citing “LARGE surge of traffic.”

    The platform’s customer support also reassured customers that while there could be errors in buying or selling, customer funds were safe.  The reassurance came as some users reported zero balances despite having voluminous balances in their accounts.

    Notably, with the current craze in the market, it is unsurprising to see servers crash because of excessive traffic. FXStreet team will bring reports once Coinbase support confirms that normalcy is restored and the situation is resolved.

    Meanwhile, CNBC crypto trader and founder of Crypto Banter Ran Neuner attributes the downtime to a “full tilt bull market frenzy!!”

    Notably, with the current craze in the market, it is unsurprising to see servers crash because of excessive traffic. FXStreet team will bring reports once Coinbase support confirms that normalcy is restored and the situation is resolved. 

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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    Source  Fxstreet
    Bitcoin (BTC) has shown the weak hand of bulls, with the sentiment spilling over into altcoins.
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    Bitcoin ranges below $67,000 as JP Morgan analysts say BTC halving is more than priced inBitcoin (BTC) is ranging below $67,000, as the largest asset by market capitalization is preparing for its halving event, estimated to occur on April 20, according to Nicehash countdown.
    Source  Fxstreet
    Bitcoin (BTC) is ranging below $67,000, as the largest asset by market capitalization is preparing for its halving event, estimated to occur on April 20, according to Nicehash countdown.
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    Source  Fxstreet
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