Israel-based exchange platform eToro is struggling to keep up with the demand from crypto traders according to an email sent to users earlier today.
“The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to support BUY orders over the weekend.”
As a result, the platform is warning of “possible limitations to crypto BUY orders” and that “spreads on crypto assets may also be much wider than usual.”
— CRYPTO KOALA (@Cryptokoala_Aus) January 13, 2021
EToro has become a victim of its own success. Yesterday marketing manager Brad Michelson revealed that in the previous 11 days, 380,000 new users had opened accounts and that trading volumes had surged 25 times higher than the same time in 2020. As of January 9, eToro boasted more than 17 million registered users.
Quantum Economics founder Mati Greenspan