CoinMarketCap says data-related glitch which artificially inflated price resolved

CoinMarketCap, a popular cryptocurrency analytics portal, has said that the glitch which caused the artificial inflation of the price of several coins listed on its platform on Friday has been resolved and all services are running fine.

The portal had acknowledged the “issue with the data” which caused the prices to show inflated as much as 1000%.

“There was a price calculation error on Tether which caused any listing with a Tether market to become artificially inflated.  We will release a post-mortem in the near future giving more details and our plans for preventing this in the future,” CoinMarketCap said.

Tether is a cryptocurrency based on US dollar.

We apologize for the glitch earlier. There was a price calculation error on Tether which caused any listing with a Tether market to become artificially inflated.  We will release a post mortem in the near future giving more details and our plans for preventing this in the future.

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— CoinMarketCap (@CoinMarketCap) August 3, 2018

The error artificially inflated the price of Aeternity by 951% at one time. Bitcoin was shown 12% high trading at $8,400 and ethereum was up by 18%.

At the time of writing this report, the portal seemed to run glitch-free and all prices were reflecting correctly. The portal said that it will, nonetheless, provide a post-mortem of the error at a later date.

However, the glitch with VeChain (VET) seems to continue as there was no historical data available for the coin. Apparently, on Friday, it was also one of the few coins which were reflecting a sharp drop in its price.