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Coinbase shuts down as crypto prices tumble

Crypto Prices Fall, Coinbase Shuts Down

With digital coin and crypto prices going for a dip on Wednesday, Coinbase, one of the largest and most popular crypto exchanges in the world, closed off to users for a short while, not allowing them to log in. It is now back in service.

Back when the error arose, the platform had tweeted that it would be looking into the matter.

After resolving the issue, the company behind Coinbase has said in a tweet that they have fixed the problem, and are currently monitoring the same. They added that users should not face any more problems in logging in to either Coinbase or Coinbase Pro. They have also apologize for any problems caused, and have thanked users for their patience.

Problems for Users Seeking to Take Advantage

Users who were especially keen to buy the dip (that is, make investments while the prices of crypto were still low) were left frustrated as the platform was not allowing them to use the app, and was displaying an error.

Massive Tumble for Crypto

Bitcoinand other crypto fall on Coinbase

Image Credits: NDTV

Many cryptocurrencies were hit by the plunging prices, including the likes of Bitcoin (which went down to $37,256, a decrease of 14% in 24 hours). Other tokens to also take a plunge ranged from Ether (the resident currency of Ethereum), which went down to just $2,731, seeing a fall of 19% in 24 hours, to Dogecoin, which fell back to a price of 38 cents per token (a falk of 20%, after last week’s soar). The overall fall in market prices was said to stand at around 22%.

Binance Affected Too

Meanwhile, Coinbase wasn’t the only platform that took a hit as crypto fell. Binance, another well known exchange platform for tokens online, especially among retail investors, also closed its doors for users seeking to withdrawn Ethereum on Wednesday, but has since resumed service.

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