Layer One X Token Sees 1,600% Price Surge

Layer One X Token Sees 1,600% Price Surge Due to Display Error on CoinGecko

According to recent data, the native token of Layer One X, a layer-1 smart contract protocol, experienced a significant price surge of over 1,680% in a matter of just a few hours. However, it appears that this sudden increase might be attributed to a display error on crypto price tracking website CoinGecko.

The price of the L1X token was reported to have jumped from $5.14 to $37.16 in just one hour, outpacing multiple other altcoins in the top 100 coins by market capitalization. Nevertheless, the project’s team has pointed out significant discrepancies between the price shown on CoinGecko and on decentralized exchanges such as Uniswap, PancakeSwap, and Raydium.

Discrepancy in Token Price Listings

Layer One X’s account on X highlighted that the L1X token was listed at $0.15 on Uniswap, PancakeSwap, and Raydium, while CoinGecko displayed the listing price at $4.21. This discrepancy has raised concerns that it “may confuse our community and visitors.”

“We’ve already submitted a ticket to resolve this issue and appreciate your quick assistance.”

As of now, CoinGecko has not issued any public comments on the situation. It remains unclear what methodology CoinGecko employs to determine starting prices for tracking.

Tips for Investors and Traders

When dealing with cryptocurrency price tracking, it’s essential to verify prices across multiple sources to avoid confusion and potential losses. Here are some tips to keep in mind:

• Verify prices on multiple crypto price tracking websites and decentralized exchanges.
• Stay informed about potential display errors or discrepancies.
• Be cautious of sudden price surges, as they might be attributed to technical issues rather than actual market trends.

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