Gemini Faces Service Disruptions Right After ETH Hit $4,200

Gemini cryptocurrency exchange co-founded by the Winklevoss twins experienced two service disruptions today. In detail, the first service disruption occurred shortly after Ether (ETH) reached an all-time high (ATH) above $4,200.  

Following then, the US-based exchange was struck by another service disruption. Precisely, a few hours after the first service disruption Gemini reported another service disruption. The exchange noted that its systems were experiencing degraded performance resulting from an undetermined cause.

As a result, Gemini reported a degraded performance in its mobile app, web interface, and application programming interface. Gemini gave the update on its status page. Then after, the crypto exchange began investigating reports of potential service disruptions at 13:24 EST.

The crypto exchange added that:

“All customer accounts and funds remain completely secure.”

Furthermore, deposits and withdrawals of all tokens Gemini supports were unaffected by the service disruption.

However, users of the firm’s mobile app, its interest-earning program Gemini Earn, wire transfers, also experienced some issues. As of 17:06 EST, Gemini reported it had implemented a fix and was monitoring the results. As of now at the time of writing the exchange is reporting that all systems are currently operational.

In line with the above, ETH has dropped to $3.933.64 at the time of writing. Similarly, cryptocurrencies including Bitcoin (BTC), ETH, and  XRP, plummeted in price too.

BTC is trading hands at $55.251.48. Meanwhile, XRP is trading at $1.41 also at the time of writing. More so, one of the trending cryptos Dogecoin (DOGE) also experienced a price drop at the same time.

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Source: https://coinquora.com/gemini-faces-service-disruptions-right-after-eth-hit-4200/