The automated blockchain engine on Coinbase seems to facing network issues with EOS. Reportedly (about 00: 00 hours UTC on 22nd February), it has halted EOS sends/receive until they continue to investigate the issue.
The twitter handle of Coinbase Support notes,
The EOS network is currently experiencing degraded performance levels. EOS sends have been temporarily disabled and receives may be delayed. Buys and sells of EOS within Coinbase are functioning normally. We’ll keep you posted as service returns to normal.
A similar warning was raised on 19th February as well of ‘degraded performance.’
Coinbase Announcement on 19th February
Network Issue Reports in Abundance
A reddit user posts about the inability to transactions on EOS due to “not enough CPU power (not enough staked).” Sashat77 notes,
Reddit User Raises Issues on EOS
It seems like possibly an attack to jam the network or worse not enough stakers/bakers, or validators going office. There are already a lot of centralization doubts around the validators/stakers being a small group of entities.
According to EOSparks data, the price of CPU and RAM on EOS has been dipping in the last 24 hours. Moreover, EOStitans’ 3 month chart shows a massive decrease in the daily staking volume on EOS.
EOS Staking Volume (Source)
Out of the original 21 block producers, only five of them are still producing blocks at all.