Armstrong said that the heavy trading demand was the cause of the many outages.
The traffic spiked by more than 10 times in only one hour as a result of the Bitcoin price rise.
Following its recent spate of unscheduled failures, crypto exchange Coinbase has said that it would have to upgrade its infrastructure in order to adequately address the problem.
If Coinbase wants to significantly reduce the number of outages it has had in the last several weeks, it has to invest heavily in its trading infrastructure. In a recent interview with Bloomberg TV, CEO Brian Armstrong stated this proposal. Armstrong said that the heavy trading demand was the cause of the many outages.
Substantial Demand Rush
He elaborated on how the system crashed due to higher-than-anticipated trading demands. Notably, Coinbase doubled or even tripled its capacity in anticipation of a demand rush. Quickly after the SEC’s approval of spot Bitcoin ETF trading in the U.S, this move was made.
Nevertheless,
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