The value of the virtual currency was shown on Coin MarketCap at $799 billion per coin.
krisanapong detraphiphat is a picture.
Users of popular data provider CoinMarketCap and the popular exchange Coinbase believed they made huge gains off of customer holdings after seeing vastly inflated prices on Tuesday.
The market value of the virtual currency is $14.7 quintillion, according to a report from verified accounts. It is trading at $887 billion per coin on the platform.
The engineering team at Coin MarketCap was aware of the incorrect price information on its website. All prices should be accurate, after the team deployed a fix. There is no evidence that the glitch was caused by an external party, according to the data aggregation.
It joked about how it felt to be a trillionaire on the social networking site.
You can follow the coin market cap on social media.
You can follow the coin market cap on social media.
Ashokarorain is on social media.
Ashokarorain is on social media.
The issue was acknowledged by Coinbase in a statement, which said it was aware of inflated values for non-tradable assets. The company said that the display issue does not affect trading.
The issue had been resolved and prices should reflect the correct market value. A representative from the company declined to speak further.
It's not clear how long the price on Coinbase was wrong. The team took about two hours to fix the problem.
Kris Marszalek said that the company is working on removing the unreliable price feed from its product.
A stream of users were talking about the bug.
Sferik is on the social media site,
Sferik is on the social media site,
Cally Russell is on social media.
Cally Russell is on social media.
Sergey Nazarov, co-founder of oracle network Chainlink, said that the error on CoinMarketCap has major implications for the apps that rely on it as their sole source of financial data.
There could have been heavy user losses if a single source had been used to gauge the price of an asset.
"Relying on a single oracle, or a single source of data, is a recipe for disaster that puts user funds at risk," Nazarov said.
The trading glitch is not new to the world ofCryptocurrencies. In September, a bug caused a plunge in the price of the digital currency. In October, the price of bitcoin fell to about $8,000 on the US trading platform.
"We will be restarting our server as a final step in our internal plan after we fixed the issue we observed on our platform this afternoon," the company said. "Sorry for the hassle."
On both platforms, the prices of cryptocurrencies looked like they were back to normal.
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Business Insider has an original article.
