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Robinhood Resolves Issues With Crypto Trading Amid Dogecoin Rally
The company’s Twitter post cited “unprecedented demand” leading to traders being unable to complete orders.
Online brokerage app Robinhood said it has resolved an outage which prevented users completing trades as they attempted to get in on the recent dogecoin rally.
STORY CONTINUES BELOW
- Robinhood tweeted Friday that “crypto trading is fully restored” after “unprecedented demand” for its services created issues executing orders for several hours late Thursday night and into Friday morning.
- The company had acknowledged that orders were displayed as “pending” for extended periods.
- The demand appears to have been led by users looking to buy dogecoin, which more than doubled in price in the last 24 hours to hit an all-time high of $0.29.
- DOGE has pulled back subsequently and is sitting at $0.27 at press time.
- Robinhood denied the suggestion that it was limiting dogecoin trading, tweeting that this was “false information.”
- The online brokerage app has seen a surge in customer sign-ups so far this year with CEO Vlad Tenev speaking of the challenge in responding to this to ensure that its system remains stable.
No, we didn’t place restrictions on $DOGE trading. This is false information. For latest operational updates, check https://t.co/hS5J5eu1GV.
— Robinhood (@RobinhoodApp) April 16, 2021
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
