Coinbase and Binance have reported overloading trading systems amid a surge in traders. The rise of Bitcoin and other digital currencies has become the main reason for the failure of platforms.
Binance CEO Changpeng Zhao tweeted that the number of people visiting the exchange has skyrocketed. That increased the load on the system.
Last night, Zhao said that he was able to fix the situation and improve the performance of the platform by launching additional servers. The exchange's traffic jumped 30 times after Bitcoin broke above $ 20,000 for the first time in three years.
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On the eve, another crypto exchange Coinbase also reported congestion due to a sharp increase in traffic. A few hours later, the administration of the trading platform announced a complete restoration of the software.
Coinbase CEO Brian Armstrong tweeted back in November that his team is constantly working to improve platform performance to deliver the fastest possible user experience.
To this end, the company is improving the work of the support service and, if necessary, launches new servers.