Bitcoin surpassed $60,000 on February 28th and broke its all-time high within a week. The market frenzy led to Coinbase experiencing two outages in the past seven days, and Binance also had a brief issue with withdrawals.
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Coinbase experiences two outages in a week
Coinbase app ranking jumps significantly
Binance quickly fixes withdrawal issue
The high level of activity in the cryptocurrency market seems to have overwhelmed exchanges. Recently, a few Coinbase users reported having zero balances in their accounts.
Coinbase tweeted regarding this issue:
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We understand that some users may be experiencing delays on Coinbase.com, and some users may intermittently see zero balances in their accounts. Please rest assured that your funds are secure.
Coinbase had previously experienced instances of zero balance displays at the end of February. CEO Brian Armstrong stated that the platform was dealing with a large volume of traffic and apologized for any issues users encountered. The team is currently working to resolve the situation.
Coinbase app ranking jumps significantly
Data from Sensor Tower, a data analytics company, shows that Coinbase rose from ranking 60th to 17th in the daily category rankings on the Google Play Store since February 6th. In the Apple App Store, it rose from 183rd to 53rd.
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Armstrong sells shares to fund scientific research, Coinbase stock price reaches $200 and can finally pay dividends!
)
Binance quickly fixes withdrawal issue
In addition to Coinbase, Binance also experienced an issue with cryptocurrency withdrawals on the evening of the 5th. However, the Binance team quickly resolved the problem within a few minutes.
Coinbase
Binance
Further reading:
Binance announces withdrawal from Nigerian fiat services, automatic conversion to USDT on 3/8
“Understanding Cryptocurrencies” starts with destigmatization! The industry should not be equated with criminal activities.