Coinbase Rocked by AWS Outage - Service Restoration Accelerates

Major Crypto Exchange Stumbles as Cloud Infrastructure Fails

The Trading Halt That Spooked Investors

Coinbase users found themselves locked out of their accounts Tuesday as Amazon Web Services experienced widespread disruptions. The outage hit during peak trading hours, leaving traders unable to execute orders or access their portfolios.

Recovery Efforts Kick Into High Gear

Engineers scrambled to restore services as the exchange's dependency on cloud infrastructure became painfully apparent. Systems began coming back online within hours, though some users reported lingering access issues.

When your entire business runs on someone else's servers, sometimes you learn the hard way that you're just renting your infrastructure - much like Wall Street banks renting their morality. The incident serves as a stark reminder that in crypto, even the giants are vulnerable to third-party failures.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

What Moved the QQQ ETF?

The QQQ ETF, which tracks the performance of the Nasdaq 100 Index (), closed higher by 0.66% on Friday, despite intense trade war tensions between the U.S. and China and the ongoing government shutdown.

In Monday’s pre-market trading, the QQQ ETF was up 0.30% as of writing, as investors focus on major Q3 earnings reports this week, including those from Netflix (NFLX), Coca-Cola (KO), Tesla (TSLA), and Intel (INTC), as well as inflation data.

QQQ’s Key Holdings with Highest Upside/Downside Potential

According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Moderate Buy. The Street’s average price target of $680.75 for the QQQ ETF implies an upside potential of about 12.7%. 

Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Atlassian Corporation (TEAM), Dexcom (DXCM), Charter Communications (CHTR), and MercadoLibre (MELI).

Meanwhile, its five holdings with the greatest downside potential are Intel, Tesla, Palantir Technologies (PLTR), Applied Materials (AMAT), and Lam Research (LRCX).  

Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.