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. UTC
Updated Sep 14, 2021 at 12:41 p.m. UTC

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.”
  • The online brokerage app has seen a surge in customer sign-ups so far this year with CEO Vlad Tenev speaking of the challenge in responding to this to ensure that its system remains stable.

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