Coinbase Says Trades Are Failing Amid Massive Market Crash

It is not uncommon for major cryptocurrency exchanges to experience technical issues during periods of extreme volatility

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Tue, 13/09/2022 - 19:56

Coinbase Says Trades Are Failing Amid Massive Market Crash

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Cryptocurrency exchange Coinbase started experiencing technical issues earlier today, with trades “intermittently failing.”

According to the exchange’s status page, the issue has been identified.

At press time, the exchange is in the process of implementing a fix.

A massive sell-off

In the meantime, the cryptocurrency market is currently in the middle of a massive sell-off, with Bitcoin being just a hair’s breadth away from slipping below the pivotal $20,000 level. It is on track to record its worst day since June.

DOGE, ADA, BTC Plunge as Nomura Predicts 100-Basis-Point Rate Hike

The cryptocurrency market has been hit extremely hard by a fresh Consumer Price Index (CPI) report that showed higher-than-expected inflation.

Cryptocurrencies predictably plunged together with stocks. The Nasdaq-100 index is down 5.73%.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.