According to Bloomberg News, for a brief period, the cryptocurrency prices that are listed on Coinbase Global Inc, aside from CoinMarketCap.com, which is a data provider went haywire Tuesday. Many tokens manifested celestial gains, and this very event made users excited about the possible windfalls, while few were kept wondering about what happened.
In a statement released by CoinMarketCap.com, the issue has been taken care of. Coinbase, United States’ biggest crypto exchange, announced the same on the microblogging site Twitter, making it clear that there was no impact on trading. Sometime later, Coinbase said that the asset price process is being investigated aside from the difficulties in trading in Coinbase Wallet that allows clients to manage their crypto-related assets. Neither of the two companies offered any explanation about what went wrong Tuesday.
There are technical glitches that have plagued the world of cryptocurrency for a long time. Few instances include facing problems while the transactions are processed, especially during high trading activity. One of the most prominent features of the world of cryptocurrency is anonymity which is a unique selling point of the industry. This, in turn, has made it difficult to track and resolve thefts and hacks, reports Bloomberg News.
In a tweet, Coinbase stated on Twitter that some customers witnessed inflated values for crypto assets that are non-tradable and that the issue was related to the display. Customers have been circulating screenshots of gains and anomalies, and the sudden increase in their bank balances virtually.
CoinMarketCap cracked jokes about the inflated amount and said that it almost caused a heart attack, while some said that these inflated prices are the figures that will be in 2026.
