TradingView Glitches Cause Bitcoin to Drop to $0 on MEXC
Recently, TradingView’s technical issues led to a dramatic situation where Bitcoin was reportedly listed at $0 on the MEXC crypto exchange, stirring quite a reaction in the crypto community.
Just the day before, Bitcoin was trading between $101,000 and $105,000, having bounced back from previous lows. However, the glitch caused a chaotic plunge, with data showing a staggering 100% drop on the Seychelles-based exchange.
The incident quickly became a hot topic on Crypto Twitter, attracting comments from market followers, including veteran trader Crypto Beast, who has over 700,000 followers. He highlighted the sudden price drop in a tweet that caught everyone’s attention.
According to him, the glitch only lasted a few seconds but resulted in a frenzy of liquidations. He claimed that all long positions on MEXC were settled due to this incident.
TradingView’s Role in the MEXC Incident
The aftermath of this event led to a surge of criticism directed at MEXC, with accusations of fraud surfacing among users. The discussion was heated, as many sought clarification about what had happened.
In response, the MEXC Builder team addressed these concerns publicly, claiming that Bitcoin did not actually drop to $0 on their platform; instead, they stated that the losses came from the liquidation of long positions because of the price glitch.
It turned out the $0 price point that circulated was a result of a display error on TradingView, not a real drop in value. So, while chaos reigned for a moment, it was not a reflection of actual trading conditions on MEXC.
Fortunately, the developers managed to rectify the error on TradingView and assured users that they were collaborating with the platform’s technical team to prevent future occurrences.
As of now, TradingView has yet to respond to inquiries regarding the glitch. Meanwhile, Bitcoin prices on the MEXC TradingView interface have stabilized, showing a normal trading price of $104,856 alongside other exchanges.
Past Crypto Price Glitches
Interestingly, this isn’t the first time such issues have occurred; even major exchanges are not immune to these anomalies. In 2023, Binance, one of the largest crypto exchanges, faced similar pricing problems.
For context, there was an incident where Bitcoin’s price fluctuated dramatically from $42,000 to $420,000 on Binance Futures in December 2023, just a few months after another glitch saw prices plummet by 90%, from $21,700 to $2,707.
In both cases, Binance confirmed that these were merely visual display issues and did not impact actual trading.
Additionally, XRP has experienced pricing discrepancies on both TradingView and exchanges, such as when tokens were mistakenly shown as trading for $62,032 after a glitch at Kraken in June 2024, compared to their actual price of $9,864 just days prior.
