Bitcoin

Apple

<p class="is-style-lead">The price of Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) paired with the stablecoin Tether (<a href="https://crypto.news/price/tether/">USDT</a>) on Binance suddenly increased almost tenfold.</p> 
<p>According to Chinese journalist Colin Wu, the price of the BTC/USDT perpetual contract on the largest cryptocurrency exchange <a href="https://crypto.news/cme-overtakes-binance-as-leading-bitcoin-futures-exchange/">Binance</a> jumped from $42,000 to $420,000 on Dec. 29.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The price of Binance BTC/USDT Perpetual Contract suddenly rose from around $42,000 to $420,000 multiple times today. Binance had previously experienced a similar problem in September. CZ said that there was a problem with the chart display. <a href="https://t.co/4XoqrhiOsZ" target="_blank">https://t.co/4XoqrhiOsZ</a> <a href="https://t.co/L8xz8VgZCG" target="_blank">pic.twitter.com/L8xz8VgZCG</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1740649162662944847?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The now former CEO of the platform, <a href="https://crypto.news/changpeng-zhaos-journey-from-mcdonalds-to-crypto-magnate/">Changpeng Zhao</a>, said that the reason was a problem with the display of the graph, a similar problem which occurred in September.</p> 
<p>Later, the Binance team also wrote to X about an error. The developers noted that they are working to solve the problem and that trading operations continue as normal and were not affected by the incident.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">We’re aware of a visual error with chart display on USDT-Margined BTC/USDT Futures. <br><br>Do note that Trading is not impacted, and our team is working on resolving the issue as soon as possible.<br><br>Funds are SAFU.</p>— Binance (@binance) <a href="https://twitter.com/binance/status/1740650916942958774?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 29, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>According to CoinMarketCap, BTC is now trading at $42,457 though in 24 hours trading the price of a single coin has dropped by 1.3%. </p> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="631" src="https://crypto.news/app/uploads/2023/12/Screenshot-2023-12-29-at-13.54.08-1024x631.png" alt="BTC price accidentally soared to $420k on Binance - 3" class="wp-image-14232574">
 <figcaption class="wp-element-caption">
  Source: CoinMarketCap
 </figcaption>
</figure> 
<p>For two weeks, the price of <a href="https://crypto.news/will-bitcoin-price-make-a-new-all-time-high-in-2023-prediction-and-analysis/">Bitcoin</a> has not shown any signs of growth decreasing by 0.6% during that period. However, over the year, the price of BTC increased by 156% and the asset’s market capitalization now exceeds $830 billion beating out major stocks like Apple and Meta in terms of year on year performance. Still, the original crypto is trading 38% below its all time high of $68,000, hit in November 2021. </p> 
<p> You might also like: <a href="https://crypto.news/why-bitcoin-price-predictions-often-miss-the-mark/"> Why Bitcoin price predictions often miss the mark </a> </p>

BTC price accidentally soared to $420k on Binance

crypto.news

Other articles published on Dec 29, 2023

Crypto Analyst Predicts Big Moves For Shiba Inu And PEPE, Here’s The Trigger

Judge considers Terraform Labs’ LUNA and MIR as securities

Ethereum Price Retreats From Highs But Technicals Suggest Upside Continuation

Polygon MATIC Retest in Process, Price Could Move Over 300x if Crucial Support Holds

Bitcoin is a ‘Screaming Buy’ for 2024, VanEck Says + More News

Tether CEO celebrates USDT’s market cap achievement

Join our free newsletter for daily crypto updates!