It appears that anyone storing their cryptocurrency on coinbase is temporarily disabled from buying or selling ETH or LTC on their platform... and their reasoning is a little sketchy.
"Litecoin and Ethereum buys and sells are temporarily disabled. We apologize for any inconvenience"
This disablement comes after the value of Litecoin and Ethereum skyrocketed over night, Litecoin reaching $400 early this morning.
I don't believe this is anything sketchy. This happens to coinbase when the coins they have on their exchange go crazy. Their systems just cannot keep up with the spike in volumes. The same thing happened about 6 or 7 months ago when ether was spiking up and down.
They even decided to make good on ether trades that customers stopped out of when the price went down to 10 cents. Something I believe they didn't have to do and it cost them millions. They wanted to keep their reputation in tact.
What they are doing today is trying to prevent a bigger problem. Even though it is very inconvenient to their customers.
The buy/sell system was disabled even a few days ago, when BTC was going up to $17k and sliding down.
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