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Coinbase and Gemini, two giant cryptocurrency exchanges crashed on Wednesday, 29th November morning, making it impossible for...

many users to buy or sell digital currency.

What happened?

According to Coinbase, it said there was an "all-time-high traffic" that contributed to system outages.

Bitcoin price which surged earlier to about $11,400 dropped to about $9,200 yesterday after many users found themselves locked out of two of the biggest cryptocurrency exchanges in the US. It was also reported that many people were being locked out of accounts on GDAX, which is Coinbase's professional trading platform, and Bitstamp, a bitcoin exchange based in Luxembourg.

For some other users, the digital exchanges were slow on performance when accessing the websites, and in some cases, people still could not log into their accounts. The same experience for Gemini users too.

However, everyone is advised to remain hopeful that normalcy returns in the system. 

 

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