October 4, 2024

Several large cryptocurrency exchanges temporarily shut down during the cryptocurrency market crash

Several large cryptocurrency exchanges temporarily shut down during the cryptocurrency market crash

Trading platforms of several exchanges were suspended for some time due to increased volatility and overloading of payment channels against the background of today's collapse of the bitcoin exchange rate.

BitMEX said that for almost an hour itsservices were unavailable due to technical problems on the part of the cloud service provider. The reason for this was another fall in the military-technical cooperation, which caused a massive closure of trading positions, causing delays in processing requests. Over the past 24 hours, a record number of liquidations has been recorded.$ 1.1 billion crypto derivatives

The Gemini platform also briefly went into emergency mode during technical problems.

Although the Coinbase exchange did not suspend itswork, but said it was monitoring its payment channels for Ether and ERC20 tokens as sending transactions was delayed due to network congestion. This is due to the drop in the ETH rate below $100 – lowest level since the crypto winter of 2018.

Other major crypto exchanges have not yet reported similar problems in their work.

</p>