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Cryptographic data aggregator CoinMarketCap got attention on Tuesday night due to a website bug that resulted in mind blowing numbers on prices, market caps and more. The bug existed for about an hour and has now been fixed.
In a tweet at 5:00 pm ET, the site operators acknowledged the pricing issues, saying “the engineering team is aware of incorrect pricing information appearing on CoinMarketCap. We are currently investigating this status and will update this status when we have more Information. “
According to the website, Bitcoin’s market cap is $ 14.7 quintillion. It also ranks Cocos-BCX at the top of the list despite its low market cap (even under normal circumstances).
“What was it like being a trillionaire for a couple of hours?” – says the site owned by the crypto exchange Binance in a subsequent tweet.
As expected, the bug sparked a wave of social media attention. Some Twitter posts indicated that TrustWallet offering a cryptocurrency wallet app has run into issues in light of the CoinMarketCap bug. Bloomberg reported that Coinbase was also hit.
Several Decentralized Finance (DeFi) protocols also use CoinMarketCap as a source of price data. DeFi Protocol DeFiChain tweeted:
“Due to a bug with the @CoinMarketCap API, all DeFiChain vaults have currently been automatically stopped to keep your assets safe.”
The error likely also affected trading bots using the CoinMarketCap API, which would have responded to seeming price increases.
“Interestingly, this rally started at exactly the same time that Coinmarketcap had a pricing error (approximately 4:35 pm ET). I wonder how many bots are using their API just started agro-buying on “market movement” tweeted Adam Cochran, partner at Cinneamhain Ventures.
Author: Anton Zaitsev, analyst Freedman Сlub Crypto News
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