How CoinMarketCap manipulates the market by showing fraudulent information

[sud]

I have found this interesting article today - https://medium.com/@coinmarketcapped/intro-how-coinmarketcap-cmc-manipulates-the-market-by-showing-fraudulent-information-to-the-c1246a953144 . There are many accusations of inside trading, market manipulation, etc, but author also shows some evidence in the next parts. Even if not all is true, I have to say that something might going on, because I've heard similar rumors earlier. Wonder what are your thoughts, and if you know any alternatives for CMC worth using.

[clrpod]

Didn't read the whole article. Stopped after the insider trading part. Coins don't pump massively from being listed on CMC so that point seemed outlandish and unfounded. I do think there's a hint of insider trading given the pattern but the reasoning that it's to profit off pumps when it lists on CMC seems misguided.

[mk4]

The market manipulation part is over exaggerated in my opinion. The only possible "price manipulation" attempt I saw was when they removed the Korean exchanges from where they base the prices. Though it definitely affected some people's views on the price, if ever it caused FUD, I don't think that was their intention at all.

Also, use LiveCoinWatch! 

[sort_cirkit]

Who knows what's on the forehead of tomorrow. Writer wrote the rumors true and false. But one thing, rumors are actually occurring many times. By the way it will be helpful for traders.

[acha1217]

After I read that article, I think so impossible if CoinMarketCap manage the price or manipulates the price. Based on my knowledge, I see all coin is decentralized whic that meaning nobody or no company control that coin, so how in that article says like that? I think this is from parties who want to defame the good name of CoinMarketCap.
If somebody or company can manage the coin, so its so easy to become rich by manage or manipulate cryptocurrency. And I think CoinMarketCap will not do this, because they will not make their company name  get red stamp, and I think trusted from user most important than everything.

[staywoke081]

Seems like a hard accusation to prove, although I have noticed on a bunch of coins I held they were slow to update. I didn't care for that much, but I also didn't think anything malicious of it. Recently I have started using other website like CryptoCompare and CoinGecko and suggest others do the same to lessen Coinmarketcap's power in this position.

[BrewMaster]

this is more of a conspiracy theory while wearing a tin foil hat in my opinion. Coinmarketcap.com is just a website that lists altcoins it can not influence the market the way the author of that article thinks.

although Coinmarketcap.com has done a great damage to us by using market capitalization (which is completely useless) as way to rank altcoins! and unfortunately this has become the only factor for people to assess an altcoin and compare them! this also has caused good projects to be pushed down just because they never had a huge supply or a premine like top altcoins such as ETH.

[sud]

Seems like a hard accusation to prove, although I have noticed on a bunch of coins I held they were slow to update. I didn't care for that much, but I also didn't think anything malicious of it.

Yes, I know from devs of at least two projects, they have been waiting weeks for supply updates, with no contact from CMC. It may harm the coin, cause lots of traders look only for low caps to invest.

although Coinmarketcap.com has done a great damage to us by using market capitalization (which is completely useless) as way to rank altcoins! and unfortunately this has become the only factor for people to assess an altcoin and compare them! this also has caused good projects to be pushed down just because they never had a huge supply or a premine like top altcoins such as ETH.

Agree! I'm really tired of judging coins and projects only using market cap... this is just so wrong and unfair.


What about the requirements for new coins/tokens to be listed on Coinmarketcap? Anyone know if it's true they changed minimum daily volume to $100k?

[Kprawn]

The market manipulation part is over exaggerated in my opinion. The only possible "price manipulation" attempt I saw was when they removed the Korean exchanges from where they base the prices. Though it definitely affected some people's views on the price, if ever it caused FUD, I don't think that was their intention at all.

Also, use LiveCoinWatch! 

They done that because their was massive price manipulation on the Korean exchanges and this influenced the correctness

of the data. People had the option to include the data, if they wanted to see that.. right? I always check the coin price against

other sources, before I make my final trade decisions.  

[tomahawk9]

I don't think CMC has the power to manipulate the prices (i'm a bit skeptical about these accusations), but if it does, it would be extremely worrisome that a simple website could manipulate the entire crypto market at its will.

There are some alternatives like 'bitinfocharts' (one of my favorites) and 'coincheckup' (I think this one uses the CMC data). All in all, people need to stop being so dependant on CMC.

What about the requirements for new coins/tokens to be listed on Coinmarketcap? Anyone know if it's true they changed minimum daily volume to $100k?

I don't think such requirements exist, I've seens shitcoins being listed with less than $5k daily volume.

[leonair]

I am a long time user of Coinmarketcap and as far as I use it in a daily basis for the Cryptocurrency prices they are reliable, I don't believe that they are manipulating any coin prices though because they are just getting data of information in different Crypto exchanges so I think if there is a true manipulation it is not in their part.

too much conspiracy theory made everyday about coin manipulations of Government, Exchanges, Whales, etc... This one is not new, let's get use to it.

[Pandu Gleen]

in fact if you look at the price of each token in the coinmarketcap is not all fraud, many tokens that have a price equal to the price in the market for sales, it seems that many are manipulating but only a portion of all tokens that have entered into the market. this is my opinion.

[cryptoroi]

There is no idea about the future though some part of this write up seems irrelevant to the future of crypto world. Yet it can be useful guideline for the newbies and investors.

[Jeff333]

CMC is an authoritative resource that would not allow it.

But....
There are many exchangers have fake volumes.

[cryptodreem]

Yes, it was an interesting article, I have read. Though there are some information which are really reliable, I think, some are not. Look, Currency price are not always stable. Sometimes it will go up and sometime down. Analysis on trend is very essential in this case.

[matipoto]

The article is really interesting. I don't agree with everything it's written there, but anyway a nice read  

[eaLiTy]

Who knows what's on the forehead of tomorrow. Writer wrote the rumors true and false. But one thing, rumors are actually occurring many times. By the way it will be helpful for traders.

How can a wrong information help traders, i have seen many difference in the price of coins in CMC and in the exchanges, whether it does manipulate the market or not is debatable, i am not sure how anyone could sell off their coins just by looking at the price in CMC and as a trader you are well aware of the market position and i am not sure how these things can manipulate the market . Even recently the market cap is stuck at one valuation for some days and that is the case with blockfolio as it is not updating live after the new update.

[justine11]

Hmmm too much reading conspiracy theories? I don't think that coinmarketcap could do market manipulation via inside trading it is only a collection of data from different exchanges and also there are also websites price checker like coinmarketcap offers too for example xe.com but the problem with coinmarketcap is they listing scam coins in their website like bitconnect and thebillioncoin.

[rivkavender]

https://www.youtube.com/watch?v=3ql-_TZH9rc&t=812s

[hacker1001101001]

I think yes, CoinMarketCap is a big company and it can really manipulate the crypto market as it is the choice of mostly every crypto investors and user so it has got great traffic on the website. It can easily mage huge drops in the coin and also gain huge profit from it. But still their is not solid proof so we manually should investigate it and report here.