Revolut users report Bitcoin price glitch showing BTC at 2 cents

Revolut users reported that the app concisely displayed Bitcoin prices plunging to astir $39,900 connected Friday, portion immoderate traders besides received notifications suggesting utmost terms moves, including that BTC had reached a 52-week debased of 2 cents.

Users further reported connected X evident simultaneous terms drops crossed aggregate cryptocurrencies, including XRP and Solana (SOL), arsenic good arsenic stablecoins specified arsenic USDt (USDT) and USDC (USDC).

The anomalies, which rapidly reversed, look to person been confined to the Revolut app, with nary matching terms dislocation disposable crossed aggregated multi-exchange information oregon derivatives markets during the aforesaid period.

External pricing sources specified arsenic CoinMarketCap and CoinGecko showed nary corresponding question successful Bitcoin oregon different large assets, suggesting the incidental was apt caused by a platform-specific pricing oregon information contented alternatively than a broader marketplace event.

Revolut said BTC had dropped to 2 cents. Source: That Martini Guy B

Revolut said it was experiencing issues affecting immoderate of the app's functionalities and that its teams were moving connected a fix.

Experts constituent to information provender mistake oregon bladed liquidity

Ranveer Arora, ex-PwC quantitative trading pb and co-founder of Altura.trade, told Cointelegraph 2 explanations are circulating for the astir 50% intraday wick seen connected Revolut’s BTC chart.

“The archetypal is simply a information provender error,” helium said. “It could beryllium a corrupt tick pushed done Revolut's pricing system, concisely anchoring the 1D illustration astatine astir $39,900 earlier correcting,” adding that, arsenic Revolut is not an speech and sources prices from outer providers, a azygous atrocious information constituent could nutrient specified a illustration move.

Arora added that an alternate mentation is simply a transient liquidity spread successful a bladed bid publication environment. “Revolut operates with constricted liquidity extent compared to a afloat exchange,” helium said. In specified a scenario, a ample merchantability bid could temporarily exhaust disposable bids and people a crisp downside wick earlier recovery.

However, helium noted that the lack of matching prints crossed different venues makes a information mistake much likely, portion immoderate corresponding trades elsewhere would enactment the liquidity-gap hypothesis.

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Marc Tillement, manager of blockchain terms oracle Pyth Data Association, said the occurrence highlights however fragile terms cognition tin beryllium successful fragmented information environments, wherever “a azygous atrocious people tin distort the cognition of terms precise quickly,” particularly successful retail-facing systems.

He added that arsenic markets go progressively continuous and data-driven, the reliability and provenance of pricing infrastructure go cardinal to marketplace trust, with participants depending connected transparent, verifiable information layers to debar distorted signals.

A Revolut enactment connection said the institution was “currently experiencing issues affecting immoderate of the app’s functionalities” and that engineers were moving connected a fix, urging customers to show its presumption leafage for updates.

Revolut said it was moving connected the issue. Source: Revolut

A spokesperson for Revolut confirmed that the incidental had been rectified, telling Cointelegraph it was caused by a “service disruption astatine a third-party provider,” resulting successful inaccurate pricing connected the platform. They said the institution was present evaluating the details of the disruption.

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