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CoinGecko pages were briefly unavailable on Mar. 6 as bullish sentiment engulfed crypto participants following Bitcoin’s dash to an all-time high the previous day.
Some CoinGecko users reported a temporary downtime on the cryptocurrency data and analytics platform as markets recovered from a dip that triggered north of $1 billion in liquidations on Mar. 5.
CoinGecko was seemingly back up at press time, and crypto social media participants on sites like X hailed the incident as another signal of bullish momentum in the digital asset ecosystem.
Bull Run Vibes 💪🏽#COINGECKO Down 📉 pic.twitter.com/ZrEW7hrMHu
— Psychoshui (@0xPsychoShui) March 6, 2024
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The platform likely experienced a short-lived glitch due to traffic surges and increased usage on a day when investors bought the dip. Crypto’s total market cap jumped 3.5% to $2.62 trillion, according to CoinGecko.
While the general sentiment leaned toward bullish remarks, some users were displeased by the event, noting that service providers should boast better scaling and operations as the bull market thickens.
Any other apps u guys are using to track ur portfolio apart from @coingecko ? It keeps crashing and can't handle the load. I need to switch
— 10M $Tokens (@tenmillionzil) March 6, 2024
CoinGecko is not the only platform rocked by skyrocketing traffic periods this year. Crypto exchange Coinbase also suffered outages on three separate occasions within two weeks. The phenomenon is to be expected as more users, especially retail, flood the crypto market in search of huge gains.
Crypto’s fear and greed index suggests market sentiment is even higher than the peak of 2021’s bull cycle, where Bitcoin (BTC) touched $69,000 for the first time and Ether (ETH) crossed $4,000.
