Rush too big? – Poloniex temporarily fails shortly before new Bitcoin record high
If all eyes are on Bitcoin, some crypto exchanges are probably overwhelmed by the onslaught.
While the record high for Bitcoin is increasingly coming within striking distance, the crypto currency had to do without the support of the crypto exchange Poloniex, at least temporarily.
Poloniex is currently unreachable due to an unexpected problem“, as the customer service of the trading platform reported accordingly yesterday, Friday. „We are investigating by Bitcoin Revolution the problem and will keep you informed“, the platform continues.
Bitcoin has been on a seemingly unstoppable climb in recent weeks, putting the crypto currency increasingly in the spotlight. However, this may cause the systems of some crypto exchanges to go down on their knees due to the high traffic. Even large trading platforms such as BitMEX and Coinbase have had to contend with similar problems in the past.
A little later it was said that „Poloniex is no longer in maintenance mode“
In the meantime, normal operation has returned to the trading platform and all crypto currencies can be traded as usual. Even crypto-futures can be traded again.
Meanwhile, Bitcoin is climbing ever closer to the previous record high of 20,000 US dollars. Many experts are convinced that the increasing interest in the mainstream is the driving force behind this. In addition to major investor Paul Tudor Jones, payment service provider Square and software manufacturer MicroStrategy have already invested large amounts in the crypto currency this year.
Cointelegraph has asked Poloniex to comment, but has not received any feedback by the editorial deadline. This article will be updated as soon as a response is received.