Bitcoin has finally broken the k 20k resistance level. Record-breaking prices generated huge traffic on countless crypto exchange platforms such as Beyonc এবং and Coinbase.
Bitcoin is always on the rise because the price is high
For weeks now, many crypto enthusiasts have been hoping that the price of bitcoin will scale to the k 20k resistance barrier. That record was recently broken, as Bitcoin (BTC) not only broke the 20 20 resistance, but also gained more than k 23k in the last 24 hours.
As a result of these all-time high (ATH) prices, crypto exchanges around the world saw a huge boost in their traffic. Even some of the largest and most popular platforms were overwhelmed by the amount of traffic they were able to generate during this time. Binance and Coinbase in particular had the most traffic which caused their platforms to see some problems.
Champeng Zhao (CZ), Chief Executive Officer of Binance, a Tweets, Informed its platform users that the exchange is currently experiencing a scaling issue that will be fixed immediately. According to him, the platform underestimated the demand for crypto assets, causing problems for its trading exchanges.
To prevent the recurrence of such problems in the future, he added, the firm is adding “many more servers”.
There are still some delayed issues here and there. To work on it, call all hands 🙏
Bitcoin goes up 5%, traffic goes up 30x https://t.co/lxSAX4lx3B
– CZ Binance (@CZ_Benance) December 16, 2020
Zhao further noted that Beyonc is experiencing some delayed issues, but the Exchange is making every effort to rectify the problem. He is convinced that the traffic is not unusual because whenever the price of a currency increases by at least 5%, there is always excitement in the traffic.
Coinbase also experiences problems
Coinbase Beyonc অভিজ্ঞতা experienced similar problems with the problems she faced. Made a firm Announcement About this problem and went to solve the problem almost immediately.
Although Beyonc was once, there is a history of repetition on the Coinbase platform that it usually tags as a “connection problem”.
The firm’s chief executive officer, Brian Armstrong, has said several times that the firm is working with assurances to eliminate such problems in its exchanges.
Clearly, the firm is prone to technical problems when its website has a high engagement rate.
What do you think about the problems of major crypto exchanges when crypto prices are high? Let us know what you think about this topic in the comments section below.
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