- Due to the glitch, Shiba Inu briefly reached the top slot.
- WatcherGuru first said that it couldn’t tell if a hack or a bug caused the anomaly.
After CoinMarketCap had a technical difficulty, the value of crypto assets increased for a brief moment. On a brief time, CoinMarketCap, a well-known crypto price aggregator, provided eye-popping figures for the prices of crypto assets, as well as their market capitalization and other data.
The price of various assets, including Bitcoin, surged to $1.5 quadrillion due to the error, which was eventually remedied. Aside from Solana, Cardano, and Wrapped Bitcoin, the value of other cryptocurrencies, including stablecoins like Binance USD, USD Coin, and DAI, had risen to over $10 million apiece.
Shiba Inu Acquired the Top Spot
Due to the glitch, Shiba Inu briefly reached the top slot in the cryptocurrency market capitalization rankings, despite its low value of $5,536. There was also a general surge in the market value of bitcoin, which reached $20 quintillion.
How did it feel to be a trillionaire for a couple hours?😂
— CoinMarketCap (@CoinMarketCap) December 14, 2021
After a few hours, the aggregator decided to ask its Twitter followers how they felt about being a trillionaire. Observing how the crypto community responds to this fresh issue will be fascinating. Some individuals think it’s a joke, while others feel their currency’s worth is legitimate.
WatcherGuru first said that it couldn’t tell if a hack or a bug caused the anomaly but then changed its mind and stated that it couldn’t say for sure.
JUST IN: CoinMarketCap, one of the largest crypto information sources in the world has reportedly been hacked. pic.twitter.com/Fln9R86TdQ
— Watcher.Guru (@WatcherGuru) December 14, 2021
Other responses from cryptocurrency holders reveal that programs relying on the site, such as TrustWallet, were also impacted by the incorrect price.
