POLONIEX PROBLEMS CAUSE ANY KIND AND LOSSES FOR CRYPTOCURRENCY TRADERS
Many cryptocurrency traders are complaining about the Poloniex platform now. This altcoin exchange exchange suffered some disruptions yesterday. During the panic that occurred, the price of Ripple fell very quickly and Ethereum also lost market capitalization of US $ 1 billion. Until now there is no clear reason for this incident from the poloniex, which we know the traders have lost a lot of money during this interruption occurred.
The trading of cryptocurrencies is indeed a very risky business. Money can easily be obtained and lost in seconds. However, if a well-known exchange market such as poloniex is disrupted, traders can not run orders in their trade, something like this is clearly wrong. Poloniex had a lot of trouble yesterday night after Ripple hit new highs. Shortly after this incident, the platform became unresponsive again.
Not only the frontend / web interface is suffering from this problem. But the poloniex API, which is used on TabTrader too, becomes unresponsive as well. The Company recognizes that disruption and trade will return to normal quickly. However, many of these users have suffered for several hours due to this incident.
To be more specific, Ethereum also lost a market capitalization of US $ 1 billion during the incident. Some people argue that Poloniex must stop all trading activities until the platform is ready to operate again smoothly. This indicates that the platform can not handle the increased trading volume in a given period of time. Which is quite confusing again, given the position of Poloniex in the market, poloniex should work better than other exchanges and running smoothly.
Consequently: many people have lost faith in Poloniex for now. One Reddit user even called it 'this site indicated some sort of organized crime scam'. It is true this is not the first time that the exchange market has suffered such disturbances. If this problem persists, Poloniex will quickly lose its market position.
It remains unclear how much money is lost due to this problem. The downfall of Ethereum's market capitalization and a great dump on Ripple unexpectedly raises more questions today. Central exchange exchanges continue to cause problems for traders. No exchange exchanges are reliable or easily accessible and secure.