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HomeNewsThe Coinbase Traffic 10x Surge: How Demand Overwhelmed Projections

The Coinbase Traffic 10x Surge: How Demand Overwhelmed Projections

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Coinbase, a cryptocurrency company based in San Francisco, experienced a surge in online traffic that exceeded their projected tenfold increase. Brian Armstrong, the CEO of Coinbase, shared updates about the high traffic after the exchange experienced some technical difficulties, which happened to coincide with Bitcoin’s rise to $64,000 on Wednesday

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The traffic surge on Coinbase has exceeded expectations.

Several cryptocurrency trading platforms, including Coinbase, experienced disruptions in their services as Bitcoin reached its peak for the day. Some Coinbase users reported seeing a zero balance in their accounts despite owning cryptocurrency on the platform. On Wednesday, Coinbase acknowledged the error and assured its clients through a press release that their assets “are safe.”

Brian Armstrong, the founder and CEO of Coinbase, addressed the concerns regarding the recent issues on the virtual entertainment network X. “The applications are now recovering,” Armstrong posted. “We had seen about a 10-fold increase in traffic and we load-tested for it. This went beyond that number.”

Coinbase Traffic 10x – Armstrong twitted

Armstrong recently made a post following a prior announcement that said, “We are currently managing a huge surge in traffic – apologies for any issues you may experience. Our team is working to resolve them.” The comments made by the Coinbase CEO coincide with a period when the 24-hour global cryptocurrency exchange volume has reached $189.6 billion, marking a 55.38% increase from the previous day.

What are your thoughts on the trade administration interferences that took place on Wednesday? Please share your contemplations and sentiments about this subject in the comments section below.

Source: Bitcoin.com

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