Coinbase Support took to Twitter in the early hours of Saturday 22nd February 2020 to notify the community of a degraded performance being experienced with EOS. As a result, according to the announcement, sending and receiving of EOS on Coinbase has since then been suspended until further notice.
Coinbase Announces EOS Degraded Performance
This is suspected to be the second time in two days that such issues have been encountered with EOS. On Thursday, February 20, 2020, a similar notification was published, where Coinbase Reports EOS and noted suspended activities.
Although much information about the technical issues leading to the suspension of activities was not released, there seems to be an ongoing effort to restore the system back to normal. At present, normal trading (buying and selling) of EOS on Coinbase works perfectly. However, users are not able to send or receive EOS until investigations are concluded.
EOS Nation Responds To Coinbase Support
Following the announcement, the official EOS twitter handle, EOS Nation responded to Coinbase’s tweet about the situation. According to EOS Nation, the report on Feb 20, stating “EOS Degraded Performance” was true. However, the system has since then been restored, said EOS Nation. They offered to help Coinbase with a troubleshoot supposing one was needed…
A few other similar reports seem to have surfaced online within the last few days. A Reddit user recently posted their difficulty in sending EOS due to low computing power.
A hypothesis is that the EOS network might have received an attack to congest the network or probably some considerable number of validators are not attending to duties for reasons not yet known. However, there is no certainty in such a report at the moment.
EOS Price Movement
In spite of the downtime on Coinbase and network issues experienced on the EOS network a few days back, the price of EOS has remained within close limits. The coin has only about 2% of it the closing price of yesterday. However, it currently changes hands at $4.02 per coin.
In a nuttshell, EOS looks strong in the long term as it alternates between a very close price range. It touched around $4.16 within the last 24 hours. More so, it has gained as much as 12% within the last 30 days.
Image Source – Flickr