Coinbase appears to have a capacity problem. Users have pointed out for years that when Bitcoin and other crypto assets are especially volatile, the exchange sometimes goes offline without warning. These outages can prevent customers from buying or selling their crypto assets, and are generally viewed unfavorably by traders.
Between March and November 2020, the exchange recorded nine different issues leading to various types of outages or connectivity problems, although direct customer impact is somewhat unclear in some of the instances. The issues seemingly range in their degree of severity. The main status update posted by Coinbase during such times is: “Coinbase.com is experiencing connectivity issues.”
Four of these instances coincided with volatile Bitcoin price action, according to 30-minute price candles on TradingView.com.
On April 29, Coinbase posted about connectivity issues. In an update to the status posted later, Coinbase.com appears to have suffered issues between 10 am and 12:30 pm PDT on that day. Bitcoin’s price moved 4.54% during that time window. Cointelegraph previously reported on platform difficulties seen on that day.
On May 9, Coinbase notified the public of another difficulty, again stating: “Coinbase.com is experiencing connectivity issues.” This time, Bitcoin’s price moved 15.26% between 5 p and 6 pm PDT — the time window showing difficulties, based on the status, which also included added details published several days after.
— Alex Cobb (@AlexCobb_) May 10, 2020
The third instance correlating with notable Bitcoin price action happened on June 1, when Coinbase once again notified the public of connectivity issues. This incident seemingly impacted users on some level between 4 and 5 pm PDT, during which time Bitcoin moved 6.94% in price. The days following…