Coinbase Fails For Fourth Time; GDAX Also Down

FinTech, Investing, News | June 26, 2017 By:

Coinbase suffered its fourth major outage of the last four weeks on Monday, while sister site GDAX also had to halt trading because of heavy volume.

Bitcoin, ethereum and other cryptocurrencies were hit hard on single-coin pricing, causing the outages thanks to massive traffic. Coinbase is intended for consumers, while GDAX is designed for professional and institutional investors.

GDAX temporarily haltied trading completely for all trading pairs, noting on the site, “We are temporarily halting trading across all products and moving to post-only mode while we work to restore service to all customers.”

Coinbase had a complete outage. The site claimed it was “down for maintenance” in a message under its “Service Unvailable” notice on its site.  :Coinbase.com is continuing to experience high traffic, and customers may continue to have trouble accessing the site. We’ve temporarily disabled ethereum buys and sells while we restore services to all customers.”

Extremely volatility in bitcoin and ethereum, the two largest cryptocurrency platforms, has been blamed for the outages. New investors spurred by the all-time price highs of bitcoin and ethereum’s recent run-up and positive press have made traffic grow exponentially on Coinbase.