Altcoins on Binance may have gotten a boost from Coinmarketcap

[Yogee]

For years now, there are many traders who were disappointed with Coinmarketcap for different reasons. One of which is how they rank exchanges. Some unheard of and shady exchanges can make it to the top by inflating their reported volume. In fairness to CMC, they also came up with rankings by adjusted volume and later on introduced the liquidity metric to rank exchanges based on the depth of their order book.

As I was browsing Coinmarketcap earlier, I noticed a few changes. As you know already, Binance acquired CMC early last month and they did what many traders expected........to make some changes to make Binance even more popular!

If you visit CMC today and check on exchange rankings https://coinmarketcap.com/rankings/exchanges, you will easily notice the following changes:
- Rankings by reported and adjusted volume were removed
- Ranking by web traffic was intorduced
- Liquidity metric was modified and became Liquidity score

As a result of the above changes, guess what? Binance is now the number one exchange in CMC! Tadaaaaa!

We know that no matter how questionable CMC was before, the site is still the most popular cryptocurrency market data aggregator among beginners and average retail traders. Most of them would rely on CMC's ranking and would most likely trade on Binance. So what are the chances that they will buy and sell altcoins there? Pretty high if you ask me.

What is your take on these recent changes?

My opinion:
It was probably correct to remove the volume but I would have respected the changes more had they chosen liquidity score instead of web traffic as the main ranking factor. But if they do that, they can't stay at the top because other exchanges like Huobi who currently rank 18th under web traffic ranking could overthrow Binance anytime.

 

[Ifra24]

It was probably correct to remove the volume but I would have respected the changes more had they chosen liquidity score instead of web traffic as the main ranking factor. But if they do that, they can't stay at the top because other exchanges like Huobi who currently rank 18th under web traffic ranking could overthrow Binance anytime.

After binance was acquired CMC i hope the CMC became more independent web nothing impact after that. Having integrity as a web data provider has the basis of market reality and can be accounted for. But until now there has not been a big change. Yes, maybe because it was acquired, even though it has to be independent, I think it will be difficult.

I see Coingecko Binance Exchange is also No. 1, I think the ranking is still reasonable for now, because binance is an exhange favorite with many innovations. With Huobi, anything can happen but for now binance remains a Favorite.

[Olaphash]

I see no problem wrong here as coingecko which isn't acquired by CZ yet also shows that Binance is also top exchange.
I hope there will be more new changes on the site (CMC) soon

[Harlot]

As a result of the above changes, guess what? Binance is now the number one exchange in CMC! Tadaaaaa!

We know that no matter how questionable CMC was before, the site is still the most popular cryptocurrency market data aggregator among beginners and average retail traders. Most of them would rely on CMC's ranking and would most likely trade on Binance. So what are the chances that they will buy and sell altcoins there? Pretty high if you ask me.

What is your take on these recent changes?

I think you don't know that Coinmarketcap is now owned by Binance since the first week of April and the result you are seeing now is not brought to you by the previous management of CMC but now with Binance operating above it.

Also they never had removed the adjusted volume in their metrics for ranking and they are still using it. Now the question on where they do get these adjustments are? They are still reflecting the data that has been submitted by these exchanges, they never had improved anything yet in terms of showing accurate and transparent data but I'm still expecting that this would change soon enough.

* Adjusted Volume - Volume from spot markets excluding markets with no fees and transaction mining

[Yogee]

As a result of the above changes, guess what? Binance is now the number one exchange in CMC! Tadaaaaa!

We know that no matter how questionable CMC was before, the site is still the most popular cryptocurrency market data aggregator among beginners and average retail traders. Most of them would rely on CMC's ranking and would most likely trade on Binance. So what are the chances that they will buy and sell altcoins there? Pretty high if you ask me.

What is your take on these recent changes?

I think you don't know that Coinmarketcap is now owned by Binance since the first week of April and the result you are seeing now is not brought to you by the previous management of CMC but now with Binance operating above it.

Also they never had removed the adjusted volume in their metrics for ranking and they are still using it. Now the question on where they do get these adjustments are? They are still reflecting the data that has been submitted by these exchanges, they never had improved anything yet in terms of showing accurate and transparent data but I'm still expecting that this would change soon enough.

* Adjusted Volume - Volume from spot markets excluding markets with no fees and transaction mining

Harlot, either you were reading too fast or you are just spamming. Read the second paragraph again.

Also, check the CMC website again. You can only see two factors there which is web traffic and average liquidity. There is no ranking by volume whatsoever. The adjusted volume you are saying in no way affects the exchange rankings unlike before.

It's a shame that you get paid to comment without comprehending my entire post.

[Bttzed03]

With web traffic, the "Top Cryptocurrency Exchanges" clearly equates to the "Most Popular Cryptocurrency Exchanges".

If they will use average liquidity, the rankings would be a mess. There are more less 90 exchanges with more than zero liquidity but there are 341 in total. Bitmex has zero liquidity according to CMC data will be ranked 90+ but we all know it is quite popular among traders.

If you sort the rankings by average liquidity now, Bibox, Bitfinex, Huobi Global, Coinbase Pro currently outranks Binance.

[TanakabZX]

Since binance now owns coinmarketcap I was expecting them to change their rank to 1st, to say the truth binance to have the highest trading volume, so this isn't a fair rating still.

And any devs who is looking for new exchange to list token or coin should use the liquidity rating instead, since some exchanges have volumes but not Liquidity

[Ucy]

So, the owner's exchange became the top exchange after the "cleansing" of coinmarketcap? Interesting.
Well, I think if there are better metrics for ranking exchange, the exchange probably won't be the top.
This is why it is better to have community agreed standard for ranking exchanges or cryptocoins, so people don't rank things the way they feel is best.
Decentralization, transparency, immutablity, censorship resistant, security, permissionless/trustless, anonymity/privacy, etc would be some of my most important metrics.

[@baoli]

I personally think CZ made a wrong move to have acquired Coin market. Comments like this wouldn't have been made. CZ has done well with Binance with his innovation and liquidity he should allow a third party audit like coin market to check them now we don't know what is transparency again. Coingecko is trying though, they might be a second place to check binance coins.  

[joseyphil82]

Since binance now owns coinmarketcap I was expecting them to change their rank to 1st, to say the truth binance to have the highest trading volume, so this isn't a fair rating still.

And any devs who is looking for new exchange to list token or coin should use the liquidity rating instead, since some exchanges have volumes but not Liquidity

I think you should check out coingecko, the rating is same, binance is ranked as first on coingecko too, no cheating here at all, I belief that in few more months coinmarketcap will take back it's once lost glory

[minairia3]

I personally think CZ made a wrong move to have acquired Coin market. Comments like this wouldn't have been made. CZ has done well with Binance with his innovation and liquidity he should allow a third party audit like coin market to check them now we don't know what is transparency again. Coingecko is trying though, they might be a second place to check binance coins.  

Even people gossip or create something like this. Dont you think people will still use coinmarketcap and Binance. Yes having said that, CZ will still feel superior and dominant when regards to the altcoins that have been listed on it. Boosting it or not, I am excited to see what changes cmc could offer us now that they belong to Binance empire now. This will not be a fast adoption but changes so far or improvement has not been on entirely different level. I am expecting more from CZ.

[meanwords]

Although they did a move that will benefit them more, at least they are able to weed out those websites who are faking their volumes. Changing it by traffic isn't really bad since Binance is probably the most popular exchange right now. I don't really care if what their changes will benefit them as long as they are staying true to giving the users the most accurate data that we will need.

[TheGreatPython]

Although they did a move that will benefit them more, at least they are able to weed out those websites who are faking their volumes. Changing it by traffic isn't really bad since Binance is probably the most popular exchange right now. I don't really care if what their changes will benefit them as long as they are staying true to giving the users the most accurate data that we will need.

Whatever changes to be implemented, I believe it will not be good to make any investment decisions just based on the ranking of CMC. I welcome whatever changes the new management will be bringing up still it should be used only as a references for getting ourselves educating what are coins available in markets and where they are being listed and other related information but definitely not for finalizing our investments.

But there are a lot of possibilities that they are going to bring up new changes which will be convincing us to make investment decisions based on their ranking or any other similar indicators. I mean all the big corporate are working hard for that reason and binance and coinmarketcap tie up will definitely do that as well.

[LbtalkL]

The TOP 10 exchanges now on CMC are more convincing and real compared before, I was about to leave CMC and use coingecko instead but news came up and it was acquired by Binance which is really good. As expected they fix what is needed to be fixed  I guess next on it to remove sh*tcoin with no volume at all. Removing adjusted and reported volume I guess was a brilliant move some exchanges volume is only generated by bots which is obviously fake. Now CMC is looking good but I guess CMC is not biased, Binance can be replaced by other exchanges anytime.

[Gayong88]

I think you are right, to check the base price most people recommend using CMC, there are many things that can be seen along with adjusting data there either coin/token can be you are looking for. Apart from that, for a fast turnaround, dominant people transact in large markets such as binance. Perhaps for  few next year CMC make it better.

[elementaryOS]

I like this change very much. Everything Binance touch somehow becomes more attractive. With this change in CMC introduce a new meter to ranking on the top and I have no doubt those shady exchanges will also 'change' themselves to get back aka manipulate traffic with bots. No worry since CMC are now in Binance good hand.

[southerngentuk]

I like this change very much. Everything Binance touch somehow becomes more attractive. With this change in CMC introduce a new meter to ranking on the top and I have no doubt those shady exchanges will also 'change' themselves to get back aka manipulate traffic with bots. No worry since CMC are now in Binance good hand.

Agree, surely coinmarketcap will be better when they are controlled by Binance. Like the Trust wallet, they became one of the leading wallets in this market when Binance bought them.

[Yogee]

I like this change very much. Everything Binance touch somehow becomes more attractive. With this change in CMC introduce a new meter to ranking on the top and I have no doubt those shady exchanges will also 'change' themselves to get back aka manipulate traffic with bots. No worry since CMC are now in Binance good hand.

Because web traffic is the new metric, all kinds of exchanges that wants to be listed at the top of CMC rankings will most likely resort to bots. It's going to be a tough task for the guys at Coinmarketcap to monitor and verify if the traffic is real or manipulated. But whatever other exchanges do, they will compete and settle for the no. 2 spot because Binance will remain on top.