The crypto trading services of Robinhood have been stopped due to the major outage. Trading app Robinhood faced an outage late Thursday in the US. Robinhood disclosed that its crypto trading services have been fully restored.
In the meantime, the firm has seen a huge surge in the demands of its cryptocurrency services. The firm has apologized for the inconvenience and informed the users to use the app as it is completely operational now.
Robinhood took to Twitter and stated: “Crypto 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 apologized for the inconvenience.”
Robinhood has also informed the clients that it has started the inquiry to find out the real causes of the outage. The crypto orders have been piled up after the outage and now after the restoration of all the services, it is executing the orders.
The interest of the investors in cryptocurrencies soared this week, after the listing of trading platform Coinbase [NASDAQ: COIN] on the Nasdaq Stock Exchange. COIN which has gained a reputation as the largest cryptocurrency exchange had predicted earnings of $730 million to $800 million on $1.8 billion in revenue in the first quarter of 2021.