I do not mean the site itself but the term coin market capitalization
Things like IOTA or XRP clearly demonstrate the bullshitness of these rankings
BULLCRAP!!!
I could issue 1000000000000000000000000 cripple tokens (CRP) and sell one to a friend, for 1$, on some exotic marketplace
Then I would be 1st on coinmarketcap with 1000000000000000000000000$ market cap (and low volume)
Maybe it would require a bot, to buy and sell from my friend alot, so I get a minimum volume
But the real value of CRP is 1$, not 1000000000000000000000000$
The makers of these sites need to change their valuation, or soon XRP will be number 1, and when the bubble bursts everyone loses their money. Lawmakers will trigger the end of crypto.
I suggest an algorithm that checks the orderbooks of the markets of each coin, then calculates:
Volume Vx = cumulative worldwide Volume required to drop price by x% (for example, 10%)
Price Py = Price when Vx has been traded
Then Real World market cap RWMCx = Vx * Py
For example, if Ripple drops from 1.40 to 1.26, how many orders would be filled? Maybe 1000 000 XRP?
Then Real World market cap RWMC10 is 1000 000 x 1.26
drop to 1.12 (20%) maybe 1000 000 XRP
Then RWMC20 is 2000 000 x 1.12
and so on
This would really let the air out of some top 10 coins LOLOLOL