Coinbase sees massive surge in trading

Coinbase saw record site traffic and a massive surge in 24-hour trading volume during the coronavirus-driven market swings.

The San Francisco-based crypto exchange said it processed $2 billion in crypto last Thursday and Friday (for comparison, Coinbase saw $394 million in volume over the past 24 hours, according to Bitwise). Last Thursday also beat Coinbase’s previous traffic record by over 50%.

The move comes, of course, as Coinbase and other firms deal with coronavirus-induced remote work mandates. CEO Brian Armstrong has for weeks publicized his exchange’s pandemic response in a regularly updated blog series.

Though Coinbase’s employees are currently remote (the exchange began implementing remote work last week in response to the COVID-19 outbreak), the engineering team used a combination of automated alerts and chatrooms to keep up with the spikes in traffic.

Tag Post :
Share This :
Share on facebook
Share on twitter
Share on linkedin
Share on google
Cult Today

Cult Today

CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed