Bitcoin

High Trading Volume Causes Coinbase Outage

Digital currencies like bitcoin and blockchain are slowly becoming a hot commodity.

As such, it should come as no surprise that one of the largest cryptocurrency companies, Coinbase, experienced some difficulties. On Monday, it reported an outage as a direct result of increased amounts of traffic and trading volume.

This makes the second time within two weeks Coinbase has experienced an outage. This week’s outage happened just as there was a 10 percent drop in bitcoin’s price on the Bitstamp platform. Although bitcoin is now priced at $2,640, it’s still up 170 percent overall for the year.

With digital currencies increasing by 95 percent to $106 billion in the past month alone, funding for blockchain technology startups has also soared high. As bitcoin and blockchain technology become more popular, it’s likely that we’ll see some innovations in the field with regard to the power to maintain all systems.

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