Robinhood gave no indication of whether the problems were the result of the increased interest and trading volume, or another issue. Ethereum has seen similar increases – gaining almost 10 per cent over the last day, and 35 per cent over the week – though nothing as dramatic. But they attracted a barrage of criticism on Twitter, where the error message was posted. Many suggested the problems were the result of the sharp increases in the value of Dogecoin, though there was nothing to indicate they were.
Dogecoin has now gained almost 33 per cent over the last 24 hours, according to tracking website CoinMarketCap. That means it has gained 120 per cent over the last week, and is now valued at more than $75 billion. The issues come amid an ongoing interest in cryptocurrencies that is leaving to volatile prices across the largest coins. That includes bitcoin – which is down almost 5 per over the last 24 hours – as well as ethereum and Dogecoin, which have both reported sharp increases.
Recommended The app’s status website said that its other products – which include trading of traditional equities and options – were working as normal.
The News Highlights
- Robinhood down: App says it is having “cryptography problems” amid the frenzy of the digital currency market
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