Some individual investors reported seeing zero balances in their Coinbase accounts for the second time in two weeks as bitcoin surged past the $68,000 mark.
For the second time in two weeks, users have reported seeing zero balances in their Coinbase accounts.
Shutterstock
Posted March 4, 2024 at 10:30 pm EST.
Crypto exchange Coinbase appears to be having trouble keeping its platform up and running amid the heightened bitcoin trading activity over the last few weeks.
Some Coinbase users reported seeing zero balances in their accounts as the price of bitcoin rallied past the $68,000 mark.
“We are aware some users may experience increased latency across Coinbase.com and a few users may see intermittent zero balance. Rest assured, your funds are safe,” said the Coinbase team in an X post.
We appreciate your patience. We’re beginning to see improvements in latencies and completed transfers. Rest assured your funds are safe. https://t.co/l12ErSL22k
— Coinbase Support (@CoinbaseSupport) March 4, 2024
This is the second time in two weeks that users have reported a similar issue with their Coinbase account balances, and glitches during buying and selling cryptocurrencies on the platform. Last week, the exchange’s CEO Brian Armstrong attributed the problem to a “large surge of traffic.”
We are dealing with a LARGE surge of traffic – apologies for any issues you encounter. The team is working to remediate.
— Brian Armstrong 🛡️ (@brian_armstrong) February 28, 2024
While the Coinbase outage sparked panic in some users, others were relatively unfazed, calling an exchange overload a typical indicator of a crypto bull market.
Coinbase down detector surging means that we’re in a bull market. pic.twitter.com/HZbdgM3LVU
— Caleb Franzen (@CalebFranzen) March 4, 2024
At the time of writing, bitcoin was trading at $68,600, gaining 8% over the last 24 hours. Data from CoinMarketCap shows that trading activity for the leading digital had seen a 117% jump over the same period, with volumes across exchanges topping $68 billion.
On Monday, bitcoin hit an all-time high against major currencies like the euro and the British pound, as its market cap hit a record $1.3 trillion for the first time.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://unchainedcrypto.com/some-coinbase-users-see-zero-balances-as-bitcoin-tops-68000/
