Major cryptocurrency exchanges face delays in transactions

Major cryptocurrency exchanges Coinbase Global and Kraken said they were facing delays in some transactions on their platforms.
Bitcoin cryptocurrencyGemini said it was temporarily entering a full-maintenance period to address an exchange-related issue that was causing performance trouble.

The price of cryptocurrencies plunged and crypto trading was delayed on Tuesday, a day in which El Salvador ran into snags as the first country to adopt bitcoin as legal tender.

Shares of blockchain-related firms also fell as crypto stocks were hit by trading platform outages. The major focus was on El Salvador, where the government had to temporarily unplug a digital wallet to cope with demand.

Bitcoin, the world’s biggest and best-known cryptocurrency, dropped more than 17 percent to $43,000 before paring some losses to trade down 9.20 percent at $47,140.27. Earlier bitcoin had hit a session high of $52,948.00.

Smaller rival ether , the coin linked to the ethereum blockchain network, fell 11.99 percent.

Coinbase said some transactions were delayed or canceled at elevated rates and that “our apps may be experiencing errors.” The exchange later said issues with Coinbase card swipes were resolved and that transactions were going through normally.

The Gemini exchange said it temporarily entered a full-maintenance period to address an exchange-related issue that caused performance trouble.

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