CoinGecko's pages were briefly unavailable on March 6 as bullish sentiment swept cryptocurrency participants after Bitcoin surged to an all-time high the day before.
Some CoinGecko users reported a pause in the cryptocurrency data and analytics platform, as markets recovered from a decline that led to $1 billion in liquidations on March 5th.
CoinGecko appears to be back in action at press time, and cryptocurrency social media participants on sites like X hailed the incident as another sign of bullish momentum in the digital asset ecosystem.
The platform likely suffered a short-term glitch due to increased traffic and increased usage on the day investors bought the dip. The total market capitalization of cryptocurrencies jumped 3.5% to $2.62 trillion, according to CoinGecko.
While the overall sentiment was leaning toward bullish statements, some users were dismayed by the event, noting that providers should boast better expansion and operations as the bull market intensifies.
CoinGecko isn't the only exchange that has been shaken by periods of high traffic this year. Cryptocurrency exchange Coinbase also suffered outages on three separate occasions within two weeks. This phenomenon is expected to occur as more users, especially retail, flood the cryptocurrency market in search of huge gains.
The Cryptocurrency Fear and Greed Index indicates that market sentiment is higher than the peak of the 2021 bull cycle, with Bitcoin (BTC) touching $69,000 for the first time and Ethereum (ETH) surpassing $4,000.
