CoinMarketCap Shows Crypto Prices Go to the Moon... Artificially as Issues Arise

What’s Happening to CoinMarketCap – Bitcoin $8,400 Dollars

Back in August the 1st, the famous website that displays the prices of most of the cryptocurrencies in the market and gives information about them, CoinMarketCap, launched its new professional API for developers and funds.

But it seems that the platform is not working properly after this implementation. Most of the cryptocurrencies are registering important gains that can even reach 1,000% such as MediShares (MDS) that grew exactly 1,007.85% in the last 24 hours, according to CoinMarketCap.

Other currencies such as Aeternity (AE) or Bitcoin Diamond (BCD) are also registering increases close to 1,000%.

Bitcoin, the most important virtual currency in the market is now registering an increase of 11.26% and a market capitalization of $144 billion dollars. But this is not the real value that is being displayed in the most important exchanges. At the time of writing Coinbase Pro is displaying a price of Bitcoin of $7,400 dollars.

In the cryptocurrency exchange Bittrex, the price is very similar to Coinbase Pro. This shows that CoinMarketCap is having trouble with the latest API implementation. At the moment, the top ten cryptocurrencies by market cap according to their website are:

  1. Bitcoin – $8,406.4 and an increase of 11.26%
  2. Ethereum – $514.54 and an increase of 24.47%
  3. XRP – $0.455466 and an increase of 5.09%
  4. Bitcoin Cash – $751.42 and an increase of 0.71%
  5. VeChain – $0.191725 and a decrease of 89.39%
  6. EOS – $8.21 and an increase of 16.81%
  7. Stellar – $0.278329 and an increase of 4.38%
  8. Litecoin – $77.88 and anincrease of 2.22%
  9. Aeternity – $18.44 and an increase of 951.18%
  10. Cardano – $0.145477 and an increase of 9.85%

The professional API was intended to give developers and funds the ability to use data that the app gathers from different exchanges and platforms.

CoinMarketCap founder, Brandon Chez, explained:

“As part of our mission to continue growing the cryptocurrency sector with our partners, our professional API will ensure that the coinmarketcap data users know and trust can be integrated into every application. Our API comes with a best in class developer dashboard that will help every developer from hobbyist to large scale cryptocurrency products team make the most of the data.”

Apparently, the platform is experiencing some issues with the latest API released that are damaging the market as a whole. This is the most important website to check and follow virtual currency prices. Newer investor may have taken decisions just because they see these new graphics and prices that do not display the real prices of virtual currencies.

It didn't take long for Crypto fans to take to Twitter to share their reactions:

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