Site traffic on major crypto exchanges and websites have surged, seemingly causing outages, intermittent access and slower loading times, as the price of Bitcoin (BTC) dove to prices not seen since February
Due to congestion on the Ethereum network,” and according to the status pages of both major cryptocurrency exchanges, users of Coinbase and Binance experienced delays in Ether (ETH) and ERC-20 token withdrawals, earlier on Wednesday.
Also, leaving crypto users unable to check market activity and trade during a critical time and purportedly for the same reason, Coinbase users still have only intermittent access to the website and mobile app while crypto analytics site CoinMarketCap and crypto exchange Kraken both briefly went down
Emergency maintenance actions to correct ongoing issues, was reported by Gemini at 2:27 pm UTC and that the funds and accounts of all customers remain completely secure.
Coinbase has gone offline several times during major Bitcoin price moves, leaving many users unable to access their portfolios. Though the exchange reported that users’ funds were safe, outages on any exchange during huge downturns or price surges can hurt traders wanting to buy or sell. Losses can mount when users aren’t able to access their accounts to sell their cryptocurrency, and potential profits can simply disappear when they can’t buy anything.