Crypto bloodbath took the exchanges out of the game
The price collapse has not gone unnoticed for the two largest cryptocurrency platforms. Coinbase and Binance experienced technical problems due to increased workload.
At 4 a.m. PTD Coinbase, a popular digital asset trading platform in the United States, went offline. The clients of the exchange could not transfer coins to other users. The crash affected all assets listed on the platform, including (BTC), Bitcoin Cash (BCH) and Tezos (XTZ). At the time of writing, the issue has been resolved, with the technical department of the exchange trying to figure out what caused it.
Binance has also reported an issue on its servers. And users confirmed that they couldn’t access the Binance.com domain. Binance quickly removed the problem too and got the website back online.
It is difficult to say what caused the sell-off in the cryptocurrency asset market. However, news of a police raid on the offices of South Korean Bithumb and technical problems at the two largest sites could aggravate the situation and affect the bearish mood. Read a more profound analysis here.
Bitcoin and others entered a steep dive
After a successful weekend and a favorable start to the week, luck turned away from the digital asset market. A sluggish current correction that took place in the morning suddenly turned into a full-scale collapse with all the consequences. The total market capitalization per day decreased by more than 6%, and bitcoin (BTC) suffered impressive losses with other major coins.
Other cryptocurrencies from the top ten, including XRP, CHAINLINK, BCH, also suffer impressive losses in the range of 6 to 11%. Worse, the dollar-pegged Tether (USDT) dived below $ 1.00 for a short time, which is rare. It is noteworthy that in the top ten coins, only Binance Coin is in the green zone. Over the past day, the coin has risen in price by 3.45%.