The management of the American company explains its decision by the excessive traffic that is observed today, during the correction of Bitcoin and the cryptocurrency market as a whole.
A message was published on the platform’s website that all operations are temporarily disabled, the company apologizes for the inconvenience caused and intends to restore the service as soon as possible. The following statement stated that the temporary outages were due to extremely intense traffic associated with the correction of the Bitcoin price and the cryptocurrency market as a whole.
(Let us clarify that Coinbase’s customer base at the beginning of December 2017 was about 15 million accounts, and transactions were concluded daily in the amount of about $50 billion)
Over the past few days, the total capitalization of the Bitcoin market has decreased by approximately $150 billion. The total trading volume, however, remains at a fairly high level - $48 billion over the last 24 hours. Let us remind you that the other day Coinbase suspended trading in Bitcoin Cash, after which some representatives of the crypto community suspected the company of insider trading.
Previously, the exchange stopped trading in Litecoin and Ethereum due to the growth of their rates, and then announced the addition of full support for Bitcoin Cash. However, shortly after the start, trading in this cryptocurrency was suspended due to high volatility and suspiciously rapid price growth.
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