Coinbase Faces Technical Issues as Trading Volume Surges, Some Users See $0 Balances

cryptonews.com:

Coinbase’s trading platform is once again encountering technical problems amid heavy trading activity in the cryptocurrency market, with some users experiencing issues such as displaying a $0 account balance.

We are aware some users may experience increased latency across https://t.co/ohqDivlp6Y and a few users may see intermittent zero balance. Rest assured, your funds are safe. Our team is investigating this issue and will provide an update. Trading is not impacted at this time.

— Coinbase Support (@CoinbaseSupport) March 4, 2024

In response to these issues, Coinbase reassured users that their funds are safe and stated that its team is actively investigating the situation. Despite the technical glitches, trading functionality has not been affected at this time.

This isn’t the first time Coinbase has encountered such problems. Less than a week ago, the platform experienced similar technical glitches due to a surge in traffic.

Reports on social media platforms highlighted the issue, prompting Coinbase’s support account to acknowledge the problem and assure users of the safety of their assets. Despite the outage, the exchange reiterated that trading remains unaffected at the moment.

The recent surge in market activity and bullish sentiment has strained Coinbase’s infrastructure, resulting in intermittent technical issues. Increased outages were reported in the last 24 hours, likely due to traders and investors flocking to the platform to capitalize on the positive market momentum. This influx of users may have overwhelmed the exchange’s servers, leading to latency and zero-balance issues for some users.

Coinbase’s platform issues coincide with a period of significant market activity as the price of Bitcoin approaches an