Coinbase shares are released after hours as the exchange adjusts to site congestion
Coinbase shares rose nearly 4% in afternoon trading, despite another day of platform delays and problems with traffic on its website.
On March 4, Coinbase stock reached its highest price in more than two years, gaining 11% on the day to $229. Shares continued to gain another 3.8 percent in after-hours trading, to $238, according to Google Finance.
The support comes despite another round of problems Coinbase faced as the platform failed to load or incorrectly displayed zero balances for some users.
Coinbase posted on X about half an hour before the close of trading in New York, making adjustments that also improve latency on the site.
“We know some users may experience increased downtime on Coinbase.com and a few users may experience intermittent zero balances. Rest assured, your funds are safe.”
The same issue crippled the exchange on February 28, and on March 1, it quickly fixed the problem where user sends, withdrawals, and deposits failed.
Coinbase's Feb. 28 Breakdown Wall Street short seller Andrew Graff of investment firm Citron called Coinbase's short sale, “one of the most compelling trades in the crypto market.”
RELATED: Where We Are in a Bull Market: Amazingly Disturbing Facts and Figures
Bitcoin (BTC) has gained over 7.8% in the last 24 hours and has crept closer to its 2021 all-time high of $69,000.
US-based Bitcoin exchange-traded funds (ETFs) also saw their second-largest volume of around $5.5 billion, according to Farside Investors. Fidelity's ETF had $404.6 million in net inflows on the day, outperforming the Grayscale Bitcoin Trust. ETF
Bitcoin-buying software company MicroStrategy closed the day up 23.5 percent above $1,330 — a price not reached since 2000 during the dot-com bubble.
The most speculative memecoins have also bounced back, with Dogecoin (DOGE) and Shiba Inu (SHIB) seeing triple-digit percentage point gains over the past seven days.
X Hall of Flame: Coinbase ‘wins', says MetaLawMan
