Digital currency startup Coinbase announced it halted trading for litecoin and ethereum amid heightened price movements around both cryptocurrencies.
Coinbase posted a message regarding the development on litecoin and ethereum on its mobile app, which said:
“Litecoin and ethereum buys and sells are temporarily disabled. We apologize for any inconvenience.”
The message links to Coinbase’s status page, which indicates a “major outage” for both litecoin and ethereum.
An incident report states that the situation had been resolved.
The issues do not extend completely to GDAX, the company’s digital asset exchange.
However, its own status page says that there is a “partial outage” for litecoin withdrawals.
GDAX’s litecoin market is seeing “degraded performance,” said the page, whereas ether trading is normal.
According to data from CoinMarketCap, GDAX’s LTC market has seen over $1.8 billion in volume in the past 24 hours.
Coinbase has been besieged by platform issues amid a period of notable price instability around bitcoin and other cryptocurrencies.
It is a state that has grown clear as the startup’s trading footprint expands.
The firm’s iOS app recently took the top spot on Apple’s U.S.-based app store in spite of the issues.
Today’s site problems have driven a round of criticism across social media, with users taking to Twitter to vent.
Coinbase CEO Issues Warning
The issues also come after Coinbase CEO and co-founder Brian Armstrong warned about the potential for further outages.
“Despite the sizable and ongoing increases in our technical infrastructure and engineering staff, we wanted to remind customers that access to Coinbase services may become degraded or unavailable during times of significant volatility or volume,” he wrote.
“This could result in the inability to buy or sell for periods of time.
“Despite ongoing increases in our support capacity, our customer support response times may be delayed, especially for requests that do not involve immediate risks to customer account security,” Armstrong added.
In anticipation of that, Armstrong wrote that the startup has expanded its customer support team, including phone services for users.
“We have also invested heavily in our infrastructure and have increased the number of transactions we are processing during peak hours by over 40x,” he said.
After saying that, Armstrong admitted that they can’t promise perfect service during times of incessant demand.
“We are committed to safety, security and transparency.
“We are working tirelessly to provide the best service and support but we can’t promise perfection during the periods of extraordinary demand.
“We will continue to do our best to keep our customers informed,” said Armstrong.
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