Coinbase, one of the biggest bitcoin marketplaces in the U.S., said Friday that trading was up again after being down for more than two hours amid a price rout in cryptocurrencies.

"Buys and sells have been re-enabled. We are monitoring for stability," Coinbase said on its status website as of 1:44 p.m., ET.

Earlier, the company said that buying and selling was temporarily disabled and that the service "may be temporarily offline" due to high traffic.

Bitcoin traded about 14 percent lower near $13,283 on Coinbase as of 2:22 p.m. ET. Earlier, the digital currency had fallen as low as $10,400, down 44 percent from its record high hit Sunday.

Coinbase's GDAX exchange for institutional investors saw about $1 billion in bitcoin-U.S. dollar trading volume over the last 24 hours, according to CryptoCompare. Only Hong Kong-based Bitfinex had greater trading volume for the currency pair at around $2 billion, the website showed.

Coinbase, whose mobile app is one of the most popular overall applications in the Apple App store this month, is a leading way in the U.S. to buy and sell major digital currencies bitcoin, ethereum and litecoin. The company added trading for bitcoin's offshoot bitcoin cash in a rocky rollout this week.