Coinbase At It Again: Crypto Exchange Dims When Bitcoin Sparkles At $67,000, 'Users Are Flooding Exchanges, It's Time'

Coinbase COIN is struggling with connectivity again, as users report zero balances.

What Happened: The company reported the second instance of connectivity problems in less than a week, indicating strong interest from traders following the Bitcoin price rally.

Coinbase Support stated on its X account that some users have experienced increased latency across the exchange, and a few users may see “intermittent zero balance.”

The team has, however, assured users of the safety of assets. While trading is not impacted, the team is looking into the issue and will provide an update soon.

A further message read: “We appreciate your patience. We're beginning to see improvements in latencies and completed transfers. Rest assured your funds are safe.”

Also Read: Coinbase Suffers Massive Outage As Bitcoin Hits $64K: 'Your Assets Are Safe' (UPDATED)

Crypto Community Reacts: Kyle Chassé, a veteran Bitcoin trader, tweeted that the crypto exchange going down in a bull market is typical. “Users are flooding exchanges to trade crypto!!! It’s Time.”

Ansem, a Solana influencer, jokingly tweeted that the Coinbase weekly chart is not safe for work.

coinbase weekly chart is legitimately NSFW my god pic.twitter.com/Y2eod9RdzO

— Ansem 🐂� (@blknoiz06) March 4, 2024

III Capital’s Joe Burnett sees Coinbase showing a $0 balance for some users as “very fishy.”

He tweeted: “It's either complete incompetence (extremely concerning) or they're trying to turn the buy button off.”

Price Action: At the time of writing, Bitcoin was trading around $67,370, up 7.4% in the past 24 hours, according to Benzinga Pro.

Read Next: 'This Is A Beautiful, Bullish Chart' - Analysts Remain Upbeat As Bitcoin Dips Below $40K

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