When an environment of extreme volatility occurs in cryptocurrencies, investors rush to the stock markets. During drastic rises or falls, exchanges’ user traffic increases tremendously.
At noon today, critical US inflation data were released. While the annual inflation expectation was 8.1% before the announcement, the announced figure was 8.3%.
Due to the higher than expected inflation figures, bitcoin including in cryptocurrencies sudden sharp declines were observed.
FTX Exchange users experienced difficulties in accessing the site during this period. Investors voiced their complaints on Twitter.
FTX down again?
Time for a new browser.— Hsaka (@HsakaTrades) September 13, 2022
A famous crypto phenomenon on Twitter complained:
“FTX stock market crashed again? I have to find a new browser”
(There have been similar problems with the FTX exchange before. Sam Bankman-Fried, the founder of the FTX exchange, searched for the crime in internet browsers.)
FTX CEO Bankman-Fried responded to the phenomenon’s tweet:
heh
sorry about that — FTX didn’t actually go down but the website did wonky auto-refreshing for a lot of people which was pretty frustrating, rolling out a fix for that momentarily
— SBF (@SBF_FTX) September 13, 2022
“The FTX exchange actually never crashed today. However, the website of our stock market is constantly renewing itself during heavy use. We are looking for a solution for this situation. Our developer team is making the necessary corrections.”
When user traffic gets too high, the websites of cryptocurrency exchanges can crash. In the past, it has been seen many times that users collectively sued cryptocurrency exchanges to reimburse their losses.
Leading cryptocurrency $BTCCurrently, it is trying to hold around $20,250.
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