Coinbase Experiences Error Again Due to Increased Trading Volume

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Crypto exchange Coinbase has once again faced technical issues amidst high trading activity in the crypto market, with some users experiencing problems such as account balances displaying zero.

Coinbase responded to this issue, assuring users that "their funds are safe and actively investigating the situation." Despite the technical disruptions, trading functions remain unaffected.

This isn't the first time Coinbase has encountered such problems. Less than a week ago, the platform experienced similar technical disruptions due to a surge in trading volume.

The recent surge in market activity and bullish sentiment has strained Coinbase's infrastructure, resulting in periodic technical issues. Numerous reports of disruptions have surfaced in the past 24 hours, likely due to traders and investors flocking to the platform to capitalize on positive market momentum.

This influx of users may have overwhelmed the exchange servers, causing delays and zero balance issues for some users.

Coinbase's problems coincide with a significant period of market activity as Bitcoin approaches its all-time high alongside increased trading volume.

Bitcoin (BTC) remains the crypto asset with the highest volume ($2.7 billion) on this exchange. In second place is Shiba Inu (SHIB) with a trading volume of $1.8 billion, followed by Ethereum (ETH) in third place with a volume of $569 million.
Image: Top 5 assets with the highest volume on Coinbase. Source: Coinmarketcap

Despite facing these challenges, Coinbase assures users of ongoing improvements in trading, although some may still experience errors in logging in, depositing & withdrawing, and payment methods due to increased traffic.

Coinbase CEO Brian Armstrong acknowledged the issue, admitting that activity exceeded expectations despite conducting traffic tests.

Read Too : Bitcoin Price Surpasses US$65,000, ATH Draws Near

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