Thousands of “Robinhood” users were unable to access their accounts on Sunday morning, coinciding with the collapse of the digital currency “Dogecoin” by more than 38%.
After “Elon Musk” appeared on the TV show “Saturday Night Live” on Saturday evening, the price of Dogecoin fell.
Despite the Bitcoin and Ethereum gains, the digital currency “Dogecoin” saw heavy losses.
The anticipation of the appearance of “Mask” in “SNL” raised the excitement of investors in cryptocurrencies, including “Dogecoin”, which has seen a record high in the past few days.
“Elon Musk” media appearance failed to keep the hype around “DOGE” even though he called himself “The Dofefather” and mentioned “Dogecoin” on the show.
During an appearance, Tesla CEO first mentioned Dogecoin 14 minutes after the show after he joked that he was giving his mom a “Dogecoin” as a gift for Mother’s Day.
Later in the same show, hosts “Michael Chi” and “Colin Ghost” asked “Elon Musk” to explain exactly what the cryptocurrency is.
It is the future of the currency, as an unstoppable financial instrument that will take over the world.
However, despite the much promoted publicity, “Dogecoin” saw the price crash quickly from $ 0.70 before diving further to around $ 0.40.
The Robinhood platform is crashing … again:
While hosting Mask, users of the Robinhood platform found that they were unable to access the trading application as the price began to decline.
As the price collapses further, more people are left unable to access their account.
The management of the “Robinhood” platform went to Twitter to make users easier, and published:
“We are currently facing problems in trading cryptocurrencies.
We are working to resolve this as soon as possible.
Half an hour later, “Robinhood” tweeted that it was running afloat and what happened due to high volume and volatility, some clients may see some intermittent issues.
However, this is not the first time that “Robinhood” users have not been able to access their account and make any trades in a period of high volatility.
Just last month, “Robinhood” crashed when the digital currency “DogeCoin” jumped 100%.
Before that, Robinhood suffered from a number of disruptions, coinciding with the surge in Gamestop’s shares.
At 6 am GMT straight, after nearly two hours of trouble, “Robinhood” reported resuming its service.