Robinhood Faces Technical Issues, Dogecoin Jumps 100%

Robinhood, a leading crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, faced some technical issues today after cryptocurrency Dogecoin jumped nearly 100% in less than 24 hours.

According to an official announcement by Robinhood, the trading platform saw unprecedented demand for its cryptocurrency services. Dogecoin touched an all-time high of $0.29 today as its market cap crossed $35 billion for the first time.

Robinhood announced on Twitter about an hour ago that its crypto trading services are fully restored. The trading platform saw a delay in order status updates due to huge trading activity across the platform.

“Cryptocurrency trading is now fully restored. Like others, we were experiencing an unprecedented demand for Robinhood Crypto services, which created issues with crypto trading. We’ve resolved the issue and apologize for the inconvenience,” Robinhood mentioned in an official announcement.

Robinhood faced similar issues in January 2021 when Dogecoin spiked nearly 900% in 24 hours. The trading platform restricted some features due to massive volatility in some stocks and Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term amid the Reddit frenzy.

Dogecoin Spike

The price of Dogecoin is on a dream run. The cryptocurrency is up by more than 7,000% since the start of this year. DOGE saw significant gains in the last 7 days as the cryptocurrency is up by more than 300% within this week. Dogecoin is now the 8th largest digital currency in the world. The total market cap of DOGE is more than Uniswap (UNI), Litecoin (LTC), Bitcoin Cash (BCH) and Stellar (XLM). The adoption of Dogecoin as a payment method has seen a significant jump in the last few months. In March 2021, Dallas Mavericks, an American professional basketball team, became the first NBA Team to accept Dogecoin as a payment method for tickets and merchandise. CoinFlip, one of the leading crypto ATM providers in the United States, announced the listing of DOGE on its 1,800 ATMs across the US.

As of writing, Dogecoin is trading near $0.26 with a total market cap of approximately $34 billion.