Kraken and Coinbase suffered outages because of the recent bitcoin boom
After bitcoin's recent scaling agreement (which I recently covered) the cryptocurrency reached a new all-time high of over $2700 , and went beyond that on some exchanges. After news of the agreement spread, most altcoins started to pump but, soon enough, it looks like people turned to bitcoin, which caused a massive market crash on most altcoins.
Right now, bitcoin's price fell back down to $2,340, making this a very negative day for the crytpcorrency market as a whole. As if that wasn't enough, Kraken and Coinbase claimed that they've seen such a tremendous increase in traffic they were actually unable to cope with it.
Here is Coinbase's statement on the issue:
Coinbase has experienced unprecedented traffic and trading volume this week. As a result, Coinbase.com has suffered a few outages and downgraded performance for some users this week. Our engineering and support teams are working around the clock to restore our site to normal performance.
Here's is what Kraken had to say:
The website and API are currently slow or unresponsive for many clients. We are working to resolve but do not have an ETA for when things may return to normal at this time. We are currently seeing all-time record traffic and performance may not return to normal until the load goes down.
The image above is Coinbase's status page today.
Nice