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Robinhood Crashes Due to Dogecoin Demand

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Tue, 05/04/2021 - 14:51
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Alex Dovbnya
Robinhood is facing issues with crypto trading due to an outpouring of demand for Dogecoin
Robinhood Crashes Due to Dogecoin Demand
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High-flying parody cryptocurrency Dogecoin is once again wreaking havoc on Robinhood's cryptocurrency trading systems.

The popular online brokerage app has just notified its users about issues related to crypto trading.

We are experiencing issues with crypto trading. We are working to resolve this as soon as possible.

Robinhood
Image by robinhood.com

The latest partial outage coincided with Dogecoin rallying to yet another all-time high of $0.61 before rapidly paring some of its gains due to a stock market sell-off led by the tech-heavy Nasdaq.

Robinhood's equities trading and options trading remain fully operational at press time.

Related
Dogecoin Tops XRP as Its Market Cap Swells to $72 Billion

More trading options

Dogecoin fans who are growing increasingly frustrated with Robinhood's technical difficulties now have more trading options. Gemini, a cryptocurrency exchange owned by the Winklevoss twins, listed the meme coin earlier today.

As reported by U.Today, Dogecoin has also become available for margin trading on Bitfinex.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.