Popular investing app Robinhood is once again having issues with processing orders amid the trading frenzy in cryptocurrencies.
Dogecoin (DOGE), the fourth-most valuable cryptocurrency by market cap, according to Messari, made an all-time high around $0.60 on Tuesday and is now trading around $0.53 at the time of writing.
Ether (ETH), the second-largest cryptocurrency, was surging for a 10th straight daily gain, potentially tying its longest winning streak in history, and pushed Tuesday to a new all-time high price over $3,500.
But many cryptocurrency traders flocking to Robinhood to place orders may have instead learned that service was disrupted.
In a tweet, Robinhood assured users that it was working to resolve the issue as soon as possible:
This isn’t the first time Robinhood has experienced platform issues. In January, Robinhood blocked trading in volatile stocks including GameStop and AMC during the buying frenzy prompted by Reddit group r/WallStreetBets. The trading app faced lawsuits following the blockage.
In April, Robinhood faced technical issues due to heightened cryptocurrency trading volumes during a near 15% sell-off in bitcoin (BTC).
Robinhood later noted the issue was resolved was resolved at 11:15AM ET.