RATE Group | Cryptocurrency ranking portal CoinMarketCap shows inflated prices due to data error
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Cryptocurrency ranking portal CoinMarketCap shows inflated prices due to data error

05 Aug Cryptocurrency ranking portal CoinMarketCap shows inflated prices due to data error

Posted at 01:55h in Cryptocurrency News by

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On 4th August, CoinMarketCap, the online cryptocurrency portal for cryptocurrency market ranking, charts and other related information, faced a data error that resulted in artificial inflation of many cryptocurrencies on its chart. Following this, the Twitter handle of the website posted a clarification dialogue that read:

“We are currently aware of an issue with the data we are pulling in. We are investigating this matter and we will follow up with more information shortly.”

In the comments of its tweet, CoinMarketCap was called out and accused of manipulating cryptocurrency prices. To this, they replied by saying that it was not a case of manipulation but a price calculation error on Tether. The error led to an artificial inflation of any cryptocurrency related with the Tether market.

The ranking portal also promised to release a ‘post-mortem’ report on the case in the foreseeable future. Reportedly, the team is currently investigating the matter actively….

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