One of the most recognized and widely used price tracking sites in the crypto money industry. CoinMarketCap, may have caused everyone to have a mini heart attack last night.
A temporary software bug on CoinMarketCap caused an incredible spike in the price of the leading cryptocurrency Bitcoin and all other cryptocurrencies.
Trillion Dollar Bug at CMC
In this event, which took place on December 14, the price of Bitcoin was shown at $ 850,136,053 and Ethereum at $ 179,598,602. Even the value of USDC, which should be indexed to $1, reached $42,000,094. USDT, meanwhile, saw $69,894,267.
It was stated that this price-oriented problem was caused by service providers. Since some crypto wallet applications also receive the data via CoinMarketCap, many crypto money investors were excited to see millions of dollars in their wallets at once.
CNBC showed trillions of dollars in cryptocurrency prices, while Yahoo Finance showed that the price of Bitcoin fell below $30,000. Although it is not known where Yahoo Finance got this data, it is certain that CNBC investors had a lot of surprises.
Everything points to a classic API error, and no cryptocurrency exchange has had a price event to support this move. Binance-owned CMC later made a joke about the incident, questioning who felt like a trillionaire last night. On the CMC, the prices seem to be normal at the moment.