Robinhood Resolves Issues With Crypto Trading Amid Dogecoin Rally
The company’s Twitter post cited “unprecedented demand” leading to traders being unable to complete orders.
Apr 16, 2021 at 9:53 a.m. UTCUpdated Aug 19, 2021 at 8:49 a.m. UTC
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Online brokerage app Robinhood said it has resolved an outage which prevented users completing trades as they attempted to get in on the recent dogecoin rally.
- Robinhood tweeted Friday that “crypto trading is fully restored” after “unprecedented demand” for its services created issues executing orders for several hours late Thursday night and into Friday morning.
- The company had acknowledged that orders were displayed as “pending” for extended periods.
- The demand appears to have been led by users looking to buy dogecoin, which more than doubled in price in the last 24 hours to hit an all-time high of $0.29.
- DOGE has pulled back subsequently and is sitting at $0.27 at press time.
- Robinhood denied the suggestion that it was limiting dogecoin trading, tweeting that this was “false information.”
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