Does CoinMarketCap (CMC) manipulates the market?

[Seetheummerallyeah]

If a single website used simply for displaying information has the ability to manipulate a market worth billions of dollars, I would argue something is wrong with the community rather than the website. Remember when CoinMarketCap removed Korean exchanges from their site leading to a crash in prices? It says a lot about crypto "investors" when they are so easily manipulated by one change on CMC.

I'm sure CMC manipulates the market in some way, unintentional or intentional. In fact every site has the ability to manipulate people (CMC "manipulation" is simply more noticeable because they have the vast majority of visitors). If you want to stop it the best way to simply use alternatives. There are many similar (and arguably better) websites out there, including but not limited to:

https://www.livecoinwatch.com/
https://coincodex.com/
https://coinlib.io/
https://coinkapp.com/
https://coincheckup.com/
https://onchainfx.com/
https://cryptowat.ch/
https://www.moonstats.com/
https://www.worldcoinindex.com/
https://bitgur.com/
https://blockexplorer.com/market
https://www.coingecko.com/en

[GoldenLad]

Well, I haven't used any site expect CoinMarketCap and it was indeed heart breaking when I first saw the video and news. Nevertheless, in some way, i still believe it could be a bug that might have caused those price difference error. Even after the news, I still use and visit it. Since they haven't released any statement about this incident, I just want to believe it was unintentional.

[yojodojo21]

I have seen some bad comments about coinmarketcap, and I think coinmarketcap is getting obsolete, there was a time that in the side of "bitcoin (BTc) there was an image of lamborghini,  maybe it was a kind of joke or something else but it was unnecessary, I am now used to check cryptos in worldcoinindex, a good site and price between " CMC" and WCI" has a difference I think worldcoinindex is much better but i'm not promoting it I just experience the quality.

[solarion]

I have seen some bad comments about coinmarketcap, and I think coinmarketcap is getting obsolete, there was a time that in the side of "bitcoin (BTc) there was an image of lamborghini,  maybe it was a kind of joke or something else but it was unnecessary, I am now used to check cryptos in worldcoinindex, a good site and price between " CMC" and WCI" has a difference I think worldcoinindex is much better but i'm not promoting it I just experience the quality.

Top rated website are does not need the promotion at all mate. I see the people checking the market place and circulation mostly on CoinMarketCap website. Next to this you may check the Coingecko website which can be do the same thing there mate.
I do not think CMC here to manipulate the value or something. It shows the same value where we see in other analysis website as well.
I am not much familier with the Worldcoinindex website so I cannot give review about them.

[semobo]

Well, I haven't used any site expect CoinMarketCap and it was indeed heart breaking when I first saw the video and news. Nevertheless, in some way, i still believe it could be a bug that might have caused those price difference error. Even after the news, I still use and visit it. Since they haven't released any statement about this incident, I just want to believe it was unintentional.

But it is not a good idea to just follow only one site for following the price,who kniws CMC owned by a whake he can change the prices to manipulate the market so it will be better to have some alternatives while checking the details about cryotocurrency.The above oost of yours contains some alternatives options for CMC so you can visit them and bookmark them for future usage.

[numizmat]

Many of such manipulation caused by the fact that CMC generally issues aggregating prices - ticker data - while not providing per-market+exchange charts/data. Some of their competitors like https://coin.market/ provide such  trades data, so you can calculate how much volume in each moment and so on - you can also check how many trades were to get, for example, btc/usd in a selected price range on all exchanges or on one exchange - it allow to easily avoid such manipulations from shady exchanges.
For example, you can also check how many trades were in a selected pair in a selected price range on all exchanges or on each exchange they follow. So, for example, if you want to see xrp/eth on binance it allows to do that. CMC aggregates xrp/eth xrp/btc xrp/usd into XRP, and doesn't allow you to see it individually.

[JollyGood]

Fraudulent data provided on CoinMarketCap distorts entire crypto-currency market perception

https://medium.com/@coinmarketcapped/intro-how-coinmarketcap-cmc-manipulates-the-market-by-showing-fraudulent-information-to-the-c1246a953144

https://medium.com/@coinmarketcapped/part-a1-fraudulent-data-provided-on-coinmarketcap-distorts-entire-crypto-currency-market-77e01f067b49

i think this is worth reading. especially because of this:

Most people here are concerned about centralised mining cartels, hardware producers, banks, governments, regulators and/or core developers being points of issues in this industry. We strongly believe that none of those come even close to comparing to the obvious fraud that has been going on at CoinMarketCap for many years.

i appreciate the work they have done by writing these posts.

CMC is not a police-type authority. It simply takes the information it receives and displays it. So basically when scam exchanges such as coinsbit and p2pb2b show they are trading US$ BILLIONS a week when they really have near zero traffic and near zero customer and near zero trade - CMC just takes their word for it.

One thing to note though is the manner in which CMC does exclude certain exchanges when looking at coins trade volumes. For example, here we can see the MNX (Minexcoin) scammers on HitBTC being excluded from the volumes because they claim to have buyers at $0.33 when the price being traded is around $0.09

https://coinmarketcap.com/currencies/minexcoin/#markets

[imstillthebest]

CMC is not a police-type authority. It simply takes the information it receives and displays it.

they arent ? i thought cmc is trusted when it comes to crypto stuffs and informations  .

So basically when scam exchanges such as coinsbit and p2pb2b show they are trading US$ BILLIONS a week when they really have near zero traffic and near zero customer and near zero trade - CMC just takes their word for it.

but did cmc takes some comisions before the display of data takes place  ?  but thanks for the info  , i didnt know that coinsbit is really scam because i see this oftenly being recomended inside the forum  .

One thing to note though is the manner in which CMC does exclude certain exchanges when looking at coins trade volumes. For example, here we can see the MNX (Minexcoin) scammers on HitBTC being excluded from the volumes because they claim to have buyers at $0.33 when the price being traded is around $0.09

https://coinmarketcap.com/currencies/minexcoin/#markets

but  you said earlier that cmc lists it all no matter if the datas are legit or not   . and now your saying that they are excluding some shady data's ?  hmmm ... that confuses me a bit  .

[pooya87]

CMC is not a police-type authority. It simply takes the information it receives and displays it.

they arent ? i thought cmc is trusted when it comes to crypto stuffs and informations  .

it is data that they show not information, so it is raw and can be interpreted anyways you like. as for trust, there isn't much they could fake because it is the data that they fetch from the exchanges and then show it on their site.
i wouldn't say they are or even can manipulate the market because they simply have no power. but they certainly can mislead people. for example two biggest things they are doing is the "dominance" factor which is meaningless and "ranking" altcoins and the concept of "top coins" which is just as meaningless.

[1Referee]

but  you said earlier that cmc lists it all no matter if the datas are legit or not   . and now your saying that they are excluding some shady data's ?  hmmm ... that confuses me a bit  .

What he tried to explain is that CMC lists every coin price and volume metric on their site, but they can exclude individual or combined metrics so that they don't get calculated into their price and/or volume index. This is done to prevent unnecessary inflation, even though they still are inflating price and volume metrics by a lot. 

When CMC excludes metrics they use */**/*** to point out what metric is exactly excluded;

* Price Excluded
** Volume Excluded
*** Price/Volume Excluded - Outlier Detected

[JollyGood]

One thing to note though is the manner in which CMC does exclude certain exchanges when looking at coins trade volumes. For example, here we can see the MNX (Minexcoin) scammers on HitBTC being excluded from the volumes because they claim to have buyers at $0.33 when the price being traded is around $0.09

https://coinmarketcap.com/currencies/minexcoin/#markets

but  you said earlier that cmc lists it all no matter if the datas are legit or not   . and now your saying that they are excluding some shady data's ?  hmmm ... that confuses me a bit  .

Do not be confused.

The CMC API that are used by exchanges to send trade volumes do exactly that and CMC takes their word for it - so it seems.

When one, two or several exchanges are selling a particular coin for $0.01 and another is selling the same coin for $100 then those volumes are excluded by CMC. That is probably completed by a simple check.

They are not a police but if anybody wants to know what is going on they should contact CMC directly.

but  you said earlier that cmc lists it all no matter if the datas are legit or not   . and now your saying that they are excluding some shady data's ?  hmmm ... that confuses me a bit  .

What he tried to explain is that CMC lists every coin price and volume metric on their site, but they can exclude individual or combined metrics so that they don't get calculated into their price and/or volume index. This is done to prevent unnecessary inflation, even though they still are inflating price and volume metrics by a lot.  

When CMC excludes metrics they use */**/*** to point out what metric is exactly excluded;

* Price Excluded
** Volume Excluded
*** Price/Volume Excluded - Outlier Detected

Thank you for elaborating  

CMC is not a police-type authority. It simply takes the information it receives and displays it.

they arent ? i thought cmc is trusted when it comes to crypto stuffs and informations  .

it is data that they show not information, so it is raw and can be interpreted anyways you like. as for trust, there isn't much they could fake because it is the data that they fetch from the exchanges and then show it on their site.
i wouldn't say they are or even can manipulate the market because they simply have no power. but they certainly can mislead people. for example two biggest things they are doing is the "dominance" factor which is meaningless and "ranking" altcoins and the concept of "top coins" which is just as meaningless.

Yes it is the raw data that is displayed by CMC and that data can easily be manipulated to the needs, motives and desires of the ones sending it.