Only a paper moon: Bitcoin price briefly shows $870B on CoinMarketCap
Only a paper moon: Bitcoin price briefly shows $870B on CoinMarketCap
A mysterious glitch caused popular coins to evidence astronomical gains on CoinMarketCap, Coinbase, among others.
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Crypto traders experienced a moment of joy, followed past confusion, when a glitch acquired several information aggregators to briefly brandish enormous gains for Bitcoin (BTC), Ether (ETH) and other cryptocurrencies.
CoinMarketCap and several other price indexes showed Bitcoin's price closing to $900 billion equally ETH showed over $81 billion. The momentary glitch besides impacted Cointelegraph's price indexes.
Hey @CoinMarketCap, you doing ok there buddy? pic.twitter.com/WfXwpSmURU
— Cointelegraph (@Cointelegraph) December 14, 2022
Displayed numbers didn't affect the trading prices on exchanges, and the platforms quickly solved the issue. CoinMarketCap explained on Twitter that the information provider is rebooting its servers every bit part of the remediation plan.
"CoinMarketCap is now back to normal subsequently an event that affected our price rankings," a spokesperson told Cointelegraph, adding that the investigation on the root cause of the glitch is still ongoing:
"And no, we didn't show y'all prices from 2026. We'd hold on that Lambo downpayment."
Crypto Twitter was quick to react to the unrealistic price movement with hilarious posts:
pic.twitter.com/xircZlbHNh
— khalil (@Zen_Eustass) December 14, 2022
Initial speculation was that hackers acquired the displayed prices:
ME later checking that #CoinMarketCap was hacked and the prices were all fake. pic.twitter.com/5cyS5iw4Y5
— Muttley Investor (@MuttleyInvesti1) Dec 14, 2022
"Everyone tunes into those disruptions, and then to the extent they all use the aforementioned data source," Bosonic founder Rosario Ingargiola explained, continuing, "So when there'southward a problem and prices are really off, that can create herd behavior to bulldoze investment decisions."
Source: https://cointelegraph.com/news/only-a-paper-moon-bitcoin-price-briefly-shows-870b-on-coinmarketcap
Posted by: gageevagarmaked.blogspot.com

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