Coinbase Investigating Trading Issues With Coinbase Pro’s BTC/USD Order Book

Coinbase, one of the leading crypto exchange platforms announced on Aug 10 that Coinbase Pro has identified a problem in the BTC/USD order book. Due to this, the trading pair was unavailable for trading on the exchange platform for hours at a stretch.

This halt in trading created a state of distress amongst the platform users. The company announced on Twitter that they are investigating the issues identified with trading on the BTC/USD order book.

Coinbase Prime and Coinbase Pro are an outcome of a split in the Coinbase Global Digital Asset Exchange (GDAX) product. The latter mainly focuses on individual traders, while the former focuses on institutional investors.

The Coinbase Pro BTC/USD order book refers to the current orders on the exchange platforms. Using this, the customers sell and buy order for a particular cryptocurrency along with its respective trading pair. It also facilitates the user to view the value at which the cryptocurrency is being sold and purchased in real-time.

The exchange later mentioned that they have successfully identified the issue which was preventing customers from trading on BTC/USD. They said that they were working on solving the issue. The company later stated that they cleared the BTC/USD in order to resolve the issue. The exchange platform further added that they cleared all the resting orders on the said order book, as stated in AMBCrypto report. They would remain in cancel mode until they finish investigating the issue.

Coinbase said later that the BTC/USD order book lacked the sufficient liquidity that was required to enter the limit-only mode. This was stated as the reason behind the clearance of the book. The exchange platform is expecting to re-open the book in a post-only mode. This mode is set to remain for a minimum duration of 10 minutes, as shared by the exchange.

The post Coinbase Investigating Trading Issues With Coinbase Pro’s BTC/USD Order Book appeared first on OWLT Market.

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