Late on April 13, Bitcoin suddenly lost the position of the largest digital currency on the list of Coinmarketcap to a strange token called Genesis Vision (GVT). As shown on Coinmarketcap, GVT is priced at 128 million USD/dong, 24-hour trading volume reaches 538 billion USDthe total capitalization is 564.850 billion USD.
Data from the Coinmarketcap platform shows that GVT has a total market capitalization that is 722 times higher than Bitcoin.
Before the appearance of a strange digital currency with too great a value, many users expressed surprise. “Unbelievable. GVT is pumped higher than Bitcoin”, account Jameisback1992 commented on Coinmarketcap.
“What the hell is going on here?” user @Jamnpepa posted a photo on Twitter and tagged Coinmarketcap’s account.
About 15 minutes after bringing GVT to the position of the world’s most valuable digital currency, this token quietly disappeared from Coinmarketcap’s list of projects with the largest capitalization. The value of the digital currency is returned to the previous mark, about 0.37 USD/copper. Genesis Vision’s total capitalization and trading volume were revised to 1.6 million USD and 7,900 USD. Compared to the information displayed previously, the value of this digital currency has decreased by about 400 million times.
On the official information pages, Coinmarketcap does not post any information regarding the error of displaying the price of GVT tokens. In addition, the daily and weekly chart of this token on Coinmarketcap is inconsistent in terms of data.
Meanwhile, data from Coingecko shows that Genesis Vision is a project with a very small transaction volume, the value fluctuates around the milestone. 0.3 USD for a long time. After being displayed on the top of Coinmarketcap, the price of GVT bounced up to the . mark 0.45 USD then crashed back to the old level.
The data on the value of GVT on the Pancakeswap exchange is similar to that of Coingecko, in contrast to information from Coinmarketcap. Therefore, this may be the fault of the platform.
This is not the first time Coinmarketcap has had problems displaying information about cryptocurrencies. In September 2021, the price of the NanoDogecoin (INDC) token on Coinmarketcap was displayed incorrectly, up from 0.00000000748 USD go up 20 USD in one day. By December 2021, a series of large cryptocurrencies were displayed at the wrong price on the platform. Bitcoin is pushed up 852 billion USD/dong, ETH is 48,863 billion USD/copper. After this incident, Coinmarketcap acknowledged the error and promised to fix it.
Coinmarketcap is a website about prices and charts of cryptocurrencies. According to data from Similarweb, this platform has about 175 million visits per month, is the website ranked 344 globally, 11th in the investment and financial categories in the US.
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