A record number of bitcoins withdrawn from Coinbase exchange

Users are massively withdrawing bitcoins from the Coinbase platform, responding to the platform's problems with scaling intime of significant price movements.

The largest crypto platform Coinbase failed to cope with automatic scaling at the momentTraders were unable to access their portfolios as BTC tried to refresh its June highs to $10,000. 

The reaction of users was not long in coming – The platform experienced the largest daily outflow of the first cryptocurrency.

According to the analytical resource Glassnode, forthe exchange’s clients withdrew 22,000BTC in the amount of $ 214 million a day. Summarized, this blocked the previous record of 2017, when July 22,200 BTC was withdrawn, in the amount of $ 63 million with an asset price of $ 2,785.

In total over the past three monthsCoinbase has not been able to cope with traffic four times during the sharp fluctuations in MTC prices. It is not surprising that without gaining access to their assets in tense moments of trading, traders massively refuse crypto services. Among them, the famous trader and author of the cult work “Black Swan” Nassim Taleb, who announced the closure of his account on Coinbase.

Despite unpleasant incidents, Coinbase balanceremains within 1 million BTC, and the mass withdrawal of the asset slightly affects financial performance, but it can push away a sufficient number of users and lead to the loss of leading positions in the cryptocurrency market.

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