{"id":404668,"date":"2022-02-11T12:02:40","date_gmt":"2022-02-11T09:02:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-briefly-dethroned-by-unknown-altcoin-due-to-coingecko-glitch\/"},"modified":"2022-02-11T12:02:40","modified_gmt":"2022-02-11T09:02:40","slug":"bitcoin-briefly-dethroned-by-unknown-altcoin-due-to-coingecko-glitch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-briefly-dethroned-by-unknown-altcoin-due-to-coingecko-glitch\/","title":{"rendered":"# Bitcoin briefly dethroned by unknown altcoin due to CoinGecko glitch"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin briefly dethroned by unknown altcoin due to CoinGecko glitch <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>CoinGecko, one of the largest cryptocurrency tracking websites in the world, has suffered a major glitch on Friday morning, with Bitcoin (BTC) mistakenly losing its position as the largest digital currency by market capitalization to a lesser-known altcoin.<\/p>\n<p>The list of top-valued cryptocurrencies on CoinGecko briefly went somewhat irrelevant, with the BTC market cap temporarily falling behind a token known as Relevant (REL).<\/p>\n<p>As of 07:20 am UTC, REL was mistakenly placed at the top of the most-valued cryptocurrencies on CoinGecko, with the market cap going insane at $6.5 septillion, or way more than all other assets in the world combined.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/bf975565-f20e-4ddf-a90b-a14109abcdf5.png\"><figcaption style=\"text-align: center;\"><em>Source: CoinGecko<\/em><\/figcaption><\/figure>\n<p>The glitch also affected the total crypto market capitalization on CoinGecko, with the market cap temporarily growing as big as $7 septillion. The issue was quickly fixed as the website data <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to be back to normal as of 8:20 am UTC.<\/p>\n<p>CoinGecko co-founder and CEO Bobby Ong told Cointelegraph that the website\u2019s errors were due to a major glitch, stating:<\/p>\n<blockquote><p>\u201cWe are facing an internal glitch over here affecting the market cap of some coins and are fixing this issue now. Things are stabilizing so hopefully no more cases like this happening again.\u201d<\/p><\/blockquote>\n<p>According to CoinGecko\u2019s major competitor website, CoinMarketCap, the REL token subsequently surged following the glitch, with the price <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/relevant\/\">surging<\/a>\u00a0to $0.9, or over 20% over the past 24 hours at the time of writing. The coin\u2019s fully diluted market cap is now worth $24.7 million, ranked the 5,378th token by market cap, according to the website.<\/p>\n<p>The REL token was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/drive.google.com\/file\/d\/1Tp2HG-jJrN2xO07s3V8O_Pfyk4zPMG3E\/view\">launched<\/a> by crypto developer Slava Balasanov in 2018. After hitting the all-time high above $8 in April 202, the REL token subsequently plummeted below $1 in a couple of months.<\/p>\n<p>Some enthusiasts in the crypto community chuckled about CoinGecko\u2019s latest glitch as it came shortly after CoinMarketCap\u2019s owner Binance announced a $200 million investment in Forbes\u00a0on Thursday.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In light of Binance&#8217;s 200m investment in Forbes, this is how CoinGecko plans to stay relevant <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/u7BC8XOw22\">pic.twitter.com\/u7BC8XOw22<\/a><\/p>\n<p>\u2014 Darren Lau (Lau, Lau)  (@Darrenlautf) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Darrenlautf\/status\/1492037807770005510?ref_src=twsrc%5Etfw\">February 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>CoinMarketCap removes allegedly fake SHIB wormhole addresses<\/em><\/strong><\/p>\n<p>CoinGecko is not alone in facing glitches like this though. CoinMarketCap experienced a similar issue one year ago, with Wrapped Bitcoin suddenly gaining quadrillions of dollars in value, briefly and mistakenly becoming the website&#8217;s most-valued cryptocurrency in January 2021.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-briefly-dethroned-by-unknown-altcoin-due-to-coingecko-glitch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin briefly dethroned by unknown altcoin due to CoinGecko glitch &#8221; CoinGecko, one of the largest cryptocurrency tracking websites in the world, has suffered a major glitch on Friday morning, with Bitcoin (BTC) mistakenly losing its position as the largest digital currency by market capitalization to a lesser-known altcoin. The list of top-valued cryptocurrencies&#8230;<\/p>\n","protected":false},"author":1,"featured_media":404669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvNmVjMzEyZGItZDQ0Mi00Njc5LWFlNzktZDQ1NTEyNmQ0MzFhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,82963,82962,74863,75679,75590],"class_list":["post-404668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-coingecko","tag-coinmarketcap","tag-cryptocurrencies","tag-market-capitalization","tag-sites"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/404668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=404668"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/404668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/404669"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=404668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=404668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=404668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}