Poloniex Exchange Goes Offline Temporarily As Bitcoin Crosses $18500 Mark

Coming as the latest development in the cryptosphere, digital asset exchange Poloniex lately went offline. The development comes at a time when BTC’s price is nearing its all-time high levels.

The crypto exchange’s customer support Twitter page mentioned, “Poloniex is currently unavailable due to an unexpected issue,” “We are investigating the issue and will keep you updated here throughout.

It is to be noted that Bitcoin has produced exuberant ascendent price action in recent weeks, as well as fetching mounting attention. Whenever the traffic on exchanges increase suddenly, their systems occasionally go down, locking out traders. The same situation has occurred with other crypto exchanges in the past as well, including Coinbase and BitMEX. 

In a follow-up tweet, Poloniex posted, “Poloniex is now out of maintenance mode. Our spot and margin markets are in post-only mode and withdrawals are temporarily unavailable.” The following update specified the coming back of futures contract trading on the platform. 

In the meantime, Bitcoin is lingering around its all-time price high near twenty thousand USD. This year has seen a noteworthy amount of typical financial consideration on the asset. Jack Dorsey’s Square, Paul Tudor Jones, and MicroStrategy have all hopped on board, purchasing big positions in the virtual asset.