By Hassan Mehmood (Saudi Arabia)
CoinMarketCap is the ultimate platform where crypto enthusiasts head whenever they wish to check the most recent prices for a dedicated cryptocurrency. It shows prices that are most recent and even has got a real-time window in which the prices of crypto can be checked as per the changes that are taking place in the crypto market by the second. But today, the platform is not in its right mind as all the prices have been jumbled pretty badly; it is showing the price of every crypto wrong. Bitcoin, the flagship cryptocurrency, is trading at $789 billion, Ether at more than $39 billion, and the same is true for every other crypto out there. As for the market capitalization of the crypto market, it is showing it to be 0, as if it now amounts to nothing and has lost everything.
This is merely a technical glitch and nothing more, but it has got crypto enthusiasts all worried and shaken. The most trusted price computing platform shouldn’t succumb to such technical glitches; even if there is a routine update taking place, the site should be brought down beforehand. Just think of a dedicated crypto user going over the CoinMarketCap right now and getting absolutely shaken down to their core; seeing all the prices badly jumbled and above all market cap of the crypto market being zero will have them laughing down on their knees.
CoinMarketCap is Showing Wrong Crypto Prices Across the Board
CoinMarketCap has already tweeted about the whole thing a few seconds before, and they are saying that it is merely a technical error, and the engineering team is working on it around the clock. At present, the very reason as to why this happened is not clear, and investigation is being carried out. They say when they know more, they will share it with the users. CoinMarketCap is owned by Binance, one of the most tenacious and high volume crypto exchanges in the world. Such technical glitch wasn’t expected from CoinMarketCap, which is singlehandedly the most trusted platform for crypto enthusiasts to verify the current real-time price of dedicated crypto. It is also not clear if the platform got hacked and what was depicted there in terms of prices for various cryptocurrencies was actually the data which a bad actor changed, and even if they did, what was their intent with it? This is merely speculation and not something that is being said by CoinMarketCap in any official capacity; all they are saying is that is it is possibly a technical glitch and will get resolved soon.
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