A mistake on CoinMarketCap shows that Bitcoin is worth $ 852 billion
CoinMarketCap had a flaw in its technical system that resulted in it showing incredible numbers for price, market capitalization and more. That includes Bitcoin, which turned out to be $ 852 billion per coin. Now this bug has been fixed after having persisted for about an hour.
Error on CoinMarketCap shows Bitcoin price at an absurd $ 852 billion
A bug on the CoinMarketCap website was displaying almost every coin at sky-high prices | Source: CoinMarketCap.
While coin and token balances are displayed correctly in the user’s account, the dollar value is not. This mistake has caused a wave of attention on social networks. Several Twitter posts indicate that TrustWallet, which provides a crypto wallet application, crashed due to the CoinMarketCap bug.
Believe in Wallet is not alone. Exodus numbers also show incorrect dollar balances. Even Coinbase was affected as it uses the CoinMarketCap metric to show the value of assets it doesn’t list, such as: B. XRP. Bloomberg reports that Coinbase is also affected.
CoinMarketCap has yet to respond, but admits pricing issues. They tweeted a brief note about the issue, but later deleted it: “The technical team became aware of incorrect pricing information appearing on http://CoinMarketCap.com. We are currently investigating and will update this status as more information becomes available. ”
And now they tweeted:
Following the anomalies we observed on our platform this afternoon, although the issue has been resolved, the final step will be to restart our servers in line with our remediation plan. Sorry for the inconvenience.
– CoinMarketCap (@CoinMarketCap) December 15, 2021
This bug can also affect trading bots using the CoinMarketCap API, responding to seemingly higher prices. After falling to $ 46,600 yesterday, BTC price rose just below $ 48,700 today. In fact, the price has changed little in the last hour since the bug was discovered. While the data is not accurate, it could have contributed to some real stagnation in the ongoing rebound in the crypto market – if users rush to back off before taking a closer look. .