Bitcoin and Crypto Prices Go Berserk at Coinbase and CoinMarketCap

The prices of cryptocurrencies traded on Coinbase Global Inc. and popular data provider CoinMarketCap.com were unhinged on Tuesday, with many tokens showing astronomical gains That made users talk about huge unexpected hikes and others wonder what had happened. At one point, the price of bitcoin appeared to exceed 7 million dollars, while ethereum showed more than 600,000 dollars.

The problem has been resolved, CoinMarketCap.com has assured in a statement, despite the fact that at dawn on Wednesday, the failures still persisted and both prices such as the rises shown by the data provider are erratic and vary with each update.

Coinbase, the largest cryptocurrency exchange in the United States, explained the same on Twitter on Tuesday, noting that trading has not been affected. A few minutes later, Coinbase said that still investigating asset price and trading difficulties in Coinbase Wallet, which allows customers to manage their crypto assets. Neither company gave an explanation about the origin of the failure.

“We have not yet found any proof that suggest that today’s fault was caused by an external party“CoinMarketCap.com said in a statement, as many on Twitter speculated that the site had been hacked. CoinMarketCap.com is owned by Binance, the world’s largest cryptocurrency exchange.

Coinbase said earlier in a tweet that some clients were seeing inflated values ​​for crypto assets “non-negotiable” and that was a display problem. Still, customers were circulating screenshots of earnings and their suddenly swelling balances online.

CoinMarketCap joked about the matter on its Twitter, while some users said they almost had a “heart attack” upon seeing the abnormal prices. The data server announced a reboot of its systems through a post on the social network.

Some also joked that the inflated prices showed where the crypto will be in the year 2026 or 2030.

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Bitcoin and Crypto Prices Go Berserk at Coinbase and CoinMarketCap

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