Wrapped Bitcoin flips BTC with $432 quadrillion market cap, says CoinMarketCap
An apparent glitch had crypto fans confused on Thursday, after CoinMarketCap showed Wrapped Bitcoin had swelled to a market value beyond $432 quadrillion.
This mistakenly ranked Wrapped Bitcoin — which is an ERC-20 that represents Bitcoin — as the number one digital asset in the world, way ahead of the $735 billion crypto that underpins it.
Over on Messari, Wrapped Bitcoin is still the 13th largest crypto asset by market value, worth $4.6 billion. That’s a little more than Craig Wright’s BSV and a bit behind Stellar Lumens.
But CoinMarketCap feeds data to a host of crypto portfolio apps — meaning the erroneous market value messed with apps around the world, all while BTC was edging closer to $40,000 once more.
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So far, CoinMarketCap hasn’t addressed the situation on Twitter, but the site has since returned to normal.
However, CoinMarketCap did ominously post an update this morning that reads:
“Have you noticed that our page auto reloads crypto prices? Happy with the change? What other features would you like to see added?,” before signing off with a fun meme from the hit TV series Lost.