Display Error Made Bitcoin Appear $4,000 Cheaper For Some Robinhood Users

Benzinga

Published Feb 25, 2022 13:05

Updated Feb 25, 2022 13:42

Display Error Made Bitcoin Appear $4,000 Cheaper For Some Robinhood Users

The price of Bitcoin (CRYPTO: BTC) displayed on Robinhood Markets Inc (NASDAQ: NASDAQ:HOOD) trading app was $4,000 lower than its actual market price during Asian hours on Friday.

What Happened: Several users reported trying to buy Bitcoin at a low of $34,500 on Robinhood and immediately sell it on other exchanges for a higher price.

Bitcoin was trading at a price of $38,626 on Coinbase (NASDAQ:COIN) Global Inc (NASDAQ: COIN), while trading at under $35,000 on Robinhood.

“Users have not been able to actually BUY Bitcoin at this price it seems. Orders can be entered, but not filled. But brutal user experience given clients are not able to access the market and are getting these updates," The Block’s News Director Frank Chaparro said on Twitter (NYSE:TWTR).

Chaparro later confirmed the price was reflected inaccurately on Robinhood due to a display issue and not a fault with the platform’s liquidity providers.

No orders placed at the inaccurate price had been fulfilled and clients who attempted to place orders were reportedly notified that they would not be executed.

Some users also reported they had noticed a similar price glitch with Ethereum (CRYPTO: ETH) on Robinhood.

On Thursday, Ethereum lost 10% of its value and was trading at around $2,300 for most of the day. Sme Robinhood users reported seeing the coin reach close to $2,800 on the same day.

Price Action: Robinhood shares traded 0.087% lower during the pre-market session on Friday.

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Written By: Benzinga

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