Bitcoin gets toppled by its synthetic version as a result of a CoinMarketCap glitch
As a result of an apparent glitch, Wrapped Bitcoin (wBTC), the largest synthetic version of the top cryptocurrency, is now worth over $400 quadrillion on CoinMarketCap. Image by coinmarketcap.com
In reality, wBTC only has a market cap of $4.3 billion. While undoubtedly impressive, it's not even enough to crack into the top 10, let alone topple Bitcoin.
This is not the first time that CoinMarketCap sparked confusion within the cryptocurrency community. In September 2019, the most visited cryptocurrency website in the world also briefly showed that Bitcoin was worth $0, triggering a string of absolutely terrifying alerts.