Coinbase Struggles with Traffic Surge on Ethereum Layer-2 Chain

By: Eliza Bennet

Recently, Coinbase, a prominent cryptocurrency exchange, experienced transaction issues due to surging trading demands on its Ethereum layer-2 chain, Base. This surge came not long after Coinbase's system crashed due to heavy Bitcoin transactions.

Users were warned about high fees and possible slowdowns due to an influx of traders rushing to new Base meme coins. Transactions were reportedly stuck and the layer-2 chain struggled to handle the increased activity, causing difficulties for the exchange's operations.

It seems clear that popular crypto exchanges like Coinbase need to accommodate such growing demands from users as the popularity of cryptocurrencies like Bitcoin, Ethereum, and Base meme coins continue to rise.