Coinbase to go offline between 10pm-11pm today
Coinbase has announced today that it will be performing System maintenance.This will significantly increase the amount of traffic which they can handle and help to prevent slow performance and login issues during large traffic surges.It is expected that buying and selling of cyptocurrencies will be to be offline for 1-2 hours. Customers may still access their accounts, deposit and withdraw.
We are performing scheduled maintenance tonight at 10pm Pacific Time.
Coinbase services will be offline for 1 hour.
This will significantly increase the amount of traffic we can handle and help to prevent slow performance and login issues during large traffic surges.
— Coinbase (@coinbase) December 12, 2017
” rel=”noopener” target=”_blank”>Tweet from Coinbase arround 6:45Am
Last week Bitcoin’s price surged today amid mayhem on the larger exchanges where the digital asset is traded. Prices quoted were sometimes a thousand dollars or more apart as the platforms reported their systems weren’t operating properly.
Bitfinex, one of the biggest exchanges, said it was investigating a denial-of-service attack, while Coinbase said its GDAX platform had a “minor service outage.” Gemini said bitcoin deposits were temporarily unavailable.
Bitcoin was quoted at least at high as $18,500 on Coinbase’s GDAX before falling as low as $15,101. The cryptocurrency was trading at about $14,000 at the start of the day, according to CoinDesk. It started the year at around $1,000.
A spokesman for Coinbase said price movements as high as 20% within a few hours aren’t uncommon for digital currencies, and that price fluctuations on other exchanges were similar in magnitude.
The homegrown technology used by many cryptocurrency exchanges is coming under strain just as big Wall Street firms will soon have much greater access to bitcoin. Institutional investors generally haven’t been able to trade this new breed of digital assets because they could run afoul of regulations. Futures, which allow traders to speculate on the future price of an asset without actually owning it, solve that problem.
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