I first started noticing it a few months ago. Blockfolio’s charts were not showing accurate data. It was plain to see the sharp upward spike in coin values, but it was not reflecting the recent drops. Then, looking closer at the dates, it seemed as though Blockfolio had stopped updating price data months earlier. In some cases, there were bizarre sideways trading prices.
Pick a different coin on the Blockfolio app and you’ll get a different set of problems with coin valuations. Just look at these screen grabs from today, May 23rd:
Cardano does not seem to have its price updated at all. For weeks, it showed a value of $1.35. In reality, the coin had spiked at a price of almost $1.00 more than that per coin. Today, the coin shows a flatline price valuation of $1.81. It’s actual valuation per Coinmarketcap.com? As of this writing, it shows $1.17.
Ethereum’s 1-Year chart shows it topping out at $1,910.71. That’s pretty close to its actual valuation on Coinmarketcap.com. The only problem is that it’s merely a coincidence that the price is almost accurate. The chart stopped updating in November of 2020.
I’m a long-term HODLer who does not religiously check the charts. I gave that up years ago when looking at coin prices that sometimes showed 90+ percent losses just became too painful. So I wondered when this all began.
Some searching turned up Reddit threads on the topic of Blockfolio’s price charts. This one is from two months ago. The user complains about the 3-month chart not being updated since February. The same user can be found in the comments section saying the following.
All this is to say that if you're making purchase decisions based on the information provided by the Blockfolio app, STOP. The company only just recently began to address the issue. At first, they were asking users on Reddit to submit support tickets. Just look at the above Reddit thread for evidence. More recent Reddit threads on the topic show Blockfolio appears to finally be on the case.
Perhaps I should count myself lucky. I use the app only to manually enter my buy and sell information and check prices. Some out there have linked to exchanges, deposited money, and more. Their experiences are much worse than my own. Just take a look at these:
User claims returned money is missing from Blockfolio
I cannot, in good conscience, recommend an alternative as I have not tried them myself. But the time to transfer my buy and sell information to a new portfolio tracker is quickly approaching. For now, I will continue to HODL, but I will definitely be getting my price data from elsewhere.
