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| When the cryptocurrency market fell EToro was suspended |
Since Tuesday 23 February, financial services company and multi-asset broker eToro has once again faced technical difficulties that have led to the disruption of its trading platform.
With the worst day in the cryptocurrency market in 2021, traders were unable to log into their eToro accounts, and on Wednesday, February 24, the platform was still unavailable.
According to a status update via https://status.etoro.com, the company said: The root cause of the problem has been identified and our developers are working hard to fix it and will provide more information as soon as possible.
Despite the constant news that we are continuing to work to solve this problem, the popular trading platform plans to go public for $ 5 billion next year. However, the trading platform remains choppy and traders cannot connect.
The company offers its traders a backup offline trading page at https://offlinemode.etoro.com, but it was initially disabled. On this site, users can learn all deals, open deals and ensure that the platform is not destroyed. .
As the digital currency lost more than $ 200 billion of its market value in just 24 hours, the move was put on hold as the price of cryptocurrencies fell.
Almost all cryptocurrencies are still roaming the Red Sea. Bitcoin suffered huge losses, dropping 15%, Ethereum 16%, Bitcoin Cash 21%, and XRP more than 23%.
However, this is not the first time that the eToro platform has stopped in a very turbulent market environment. EToro was severely disrupted in late January as eToro and other online trading applications failed to meet the growing demands of retail investors. .
As eToro's suspension continues, many frustrated marketers have taken to Twitter to voice their anger. EToro has not issued an official statement.
It is not known how many accounts were affected, what technical difficulties faced, and for how long eToro was unavailable.
The company said: We are currently facing the problem of service outages and we are working to solve this problem as soon as possible. We apologize to all customers affected by this disruption and are working closely with Microsoft's management to resolve the issue.
Since users can trade cryptocurrencies and global stocks through mobile phones, the platform is increasingly popular.
EToro also has a Trade Copy feature that allows investors to view and copy the strategies of the top traders.
EToro's user base grew by nearly a third in 2020, and it has invested $ 1.5 billion through the platform, up 400% from 2019.