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You are not a trillionaire. When you looked at the price of your investments on Tuesday afternoon, you would be forgiven for putting your pants on.
The sudden jump in the price of a variety of cryptocurrencies was due to price issues and wasn't real, as was explained by Coin MarketCap in a statement on Tuesday.
The company said that their website was currently undergoing price issues. When we have more information, we will update this status. It is not clear whether this was a security incident or a glitch. We reached out to Coin MarketCap for an explanation.
The price of every coin jumped by several orders of magnitude, with the price of a single coin rising to more than $500 billion. The value of the digital currency jumped to around $789 billion. The market cap of the digital currency was between a quadrillion dollars and the Moon.
Between the time the issue first appeared and it apparently being fixed, countless biclists saw their net worth jump into the range of Musk's.
There were false dreams of buying a libertarian island paradise off the coast of New Zealand and trashing the boss's office. The Coin MarketCap was kind as well as to mock the hopeful.
It is not clear how many people cashed out when they thought the price of the Shiba Inu coin had jumped to over $22,000, when it is actually worth less than a dollar. Hopefully, most investors checked the real exchange rate before blowing all their hard work because of a screwy website.
