This Coinbase glitch led to soaring cryptocurrency prices

A glitch on the cryptocurrency trading platform Coinbase led to soaring crypto token prices Tuesday morning, according to Bloomberg News.

Prices of crypto coins went wild on both Coinbase and CoinMarketCap.com, which monitors the value of coins.

• CoinMarketCap.com told Bloomberg that the issue was resolved.

Coinbase said on Twitter that the “display issue has been resolved.”

• “Non-tradable assets on http://Coinbase.com are no longer appearing inflated, and assets on Coinbase Wallet should reflect the correct market value. Again, this did not impact trading,” Coinbase said on Twitter.
• Soon after, Coinbase said it is still investigating the issue before confirming, again, that the issue had been resolved.

Some of the most popular coins — Ethereum, Tether, Binance Coin, Solana, Cardano, Polkadot and Dogecoin — all soared in value because of the glitch. Multiple reports suggested that the CoinMarketCap.com had been hacked, which led to the massive glitch of inflated prices, according to Hype Beast.

• “The price surge led many crypto users to believe that they had seemingly become billionaires and trillionaires overnight,” according to Hype Beast.