Coinbase Struggles to Keep Up with Bitcoin Demand

The rapid rise in the price of Bitcoin has caused an increase in interest in Coinbase – one of the largest cryptocurrency exchanges and wallets in the world. Having exchanged over $50 billion in crypto – you would think the tech stack could keep up. Think again.

In a series of tweets, Coinbase admitted demand was outstripping its ability to to allow customers to purchase, or sell, crypto.

In the past month alone, Bitcoin has increased by 137% – but don’t blink – as that number continues to go higher – or lower – depending on when you look.

Today, Bitcoin topped $16,000 for the very first time. It was JUST $6000 las month.

Ethereum and Litcoin have also benefitted from popular interest in purchasing digital currency – just not quite as much.

 

 

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