Just a paper moon: Short-term Bitcoin price shows $ 870 billion on CoinMarketCap

A mysterious bug caused popular coins to post phenomenal gains on CoinMarketCap, Coinbase, among others.

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Cryptocurrency traders experienced a moment of confusion, then confusion when a glitch caused some data aggregators to briefly display massive profits for Bitcoin (BTC), Ether (ETH), and other cryptocurrencies.

CoinMarketCap and several other price indicators show that Bitcoin price closed at $ 900 billion while ETH hit over $ 81 billion. The temporary crash also affected Cointelegraph’s price index.

this @CoinMarketCapAre you all right? pic.twitter.com/WfXwpSmURU

– Cointelegraph (@Cointelegraph) December 14, 2021

The numbers shown have no influence on the trading price on exchanges and fast platforms solved Problem. CoinMarketCap to explain on Twitter that the data provider is restarting its servers as part of a restructuring plan.

“CoinMarketCap is now back up and running after a problem that affected our price rankings,” a spokesman told Cointelegraph, adding that the investigation into the cause of the failure is still ongoing:

“And no, we haven’t shown you any prices since 2026. We keep the prepayment from Lambo.”

Crypto Twitter quickly responded to the unrealistic price fluctuations with hilarious posts:

pic.twitter.com/xircZlbHNh

– Khalil (@Zen_Eustass) December 14, 2021

Initial speculation was that the hacker caused the display price:

I after checking that #CoinMarketCap hacked and all prices are fake. pic.twitter.com/5cyS5iw4Y5

– Muttley Investor (@ MuttleyInvesti1) December 14, 2021

Bosonic founder Rosario Ingargiola explains, “Everyone is noticing these disruptions so they are using the same data source to some extent.”