Prices of cryptocurrencies listed on Coinbase Global Inc. and popular data provider CoinMarketCap.com briefly went haywire Tuesday, with many tokens showing astronomical gains that sent users gushing about huge windfalls and others wondering what happened.
The issue has been resolved, CoinMarketCap.com said in a statement, and Coinbase posted on Twitter, noting that trading wasn’t impacted. Neither company provided an explanation of what went wrong.
Coinbase, the largest US crypto exchange, said in a tweet earlier that some customers are seeing inflated values for “non-tradable” crypto assets and that it’s a display issue. Still, customers were circulating screen shots of the gains and their suddenly increased balances online.
CoinMarketCap made jokes about the issue in its Twitter feed, while some users said they almost had a “heart attack” when seeing the abnormal prices. Some also joked that the inflated prices showed where crypto will be in year 2026.
CoinMarketCap.com is owned by Binance, the world’s biggest crypto exchange.