Coinbase announced Tuesday evening that it would be listing the popular (and somewhat divisive) Bitcoin fork – Bitcoin Cash.
The news saw the price of the currency shoot over $3500 USD on other exchanges – a rise which is said to have began BEFORE the official Coinbase announcement, raising concerns and talks of insider trading by employees of the exchange.
The price then went well above $US8,000 per coin on Coinbase’s GDAX platform after listing, triggering the company to put a temporary freeze on its trading ‘due to liquidity issues’.
“Buys and sells on Coinbase.com and in our mobile apps will be available to all customers once there is sufficient liquidity on GDAX. We anticipate that this will happen tomorrow.”
– from their blog.
This isn’t the first time Coinbase has struggled to meet demands in trading volume, nor is it the first time Bitcoin Cash has seen a violent rise and fall.
We pray for any bag holders out there.