Despite a bloody crypto market, the latest CoinMarketCap glitch brought crypto investors plenty of entertainment, temporarily inflated portfolios, and a reason to be bullish on Chainlink.  Covered: CoinMarketCap Glitch Bullish For Chainlink? The Memes That Followed CoinMarketCap Glitch Yesterday, on a relatively slow day in crypto, most investors weren’t paying attention to the space. That […] The post Here’s The Aftermath Of The CoinMarketCap Glitch appeared first on CryptosRus.

Here’s The Aftermath Of The CoinMarketCap Glitch

Despite a bloody crypto market, the latest CoinMarketCap glitch brought crypto investors plenty of entertainment, temporarily inflated portfolios, and a reason to be bullish on Chainlink. 

Covered:

  • CoinMarketCap Glitch
  • Bullish For Chainlink?
  • The Memes That Followed

CoinMarketCap Glitch

Yesterday, on a relatively slow day in crypto, most investors weren’t paying attention to the space. That was until the popular crypto tracking website CoinMarketCap had an unexpected glitch that caused cryptocurrency prices to absolutely skyrocket.

According to CoinMarketCap’s status page, the engineering team was made aware of the pricing issue and was able to quickly resolve the problem about 48 minutes later.

 

Bullish For Chainlink?

According to a recent blog post, CoinMarketCap has partnered with DIA to use as an oracle for price feeds.

While the glitch doesn’t carry much weight for the crypto space, some proponents of the decentralized oracle provider Chainlink used the glitch to highlight why oracles are important for relaying accurate price feeds, and specifically why Chainlink is the superior option as compared to its competitors such as DIA or Band Protocol (BAND).

Yesterday’s CoinMarketCap glitch seems to show why so many players in the crypto space choose Chainlink. CoinGecko, who uses Chainlink for its price feeds, was left unaffected by CoinMarketCap’s crazy price fluctuations.

RECOMMENDED: CHAINLINK IS QUIETLY MAKING BIG MOVES

The Memes That Followed

If there’s one other thing that the crypto community is good at besides identifying reckless monetary policy, it’s making memes. While crypto news came in relatively slowly yesterday, the memes that followed the CoinMarketCap glitch certainly made up for the lack of action.

The cause of the glitch is still anyone’s guess, but I imagine this is how most crypto investors that tried to cash out felt. 

The widely-followed crypto news provider Blockworks also entered the chat. It looks like Elon Musk’s announcement of his plans for Dogecoin (DOGE) turned out to be quite the bullish event.

After yesterday’s wild series of events, CoinMarketCap took to Twitter to apologize for the mishap.

The post Here’s The Aftermath Of The CoinMarketCap Glitch appeared first on CryptosRus.