CMC Misleading new projects

[travwill]

I doubt that you need to blame the CMC here. I am sure every sensible developer approaches the issue comprehensively studying all sides of the issue, including incorrect data from the CMC.
The primary reason that developers choose shitty exchanges is greed, they want to go cheaper on the exchange leaving most of the money to themselves.

[bttmember]

Well we cannot say that coinmarketcap is directly related with fake volumes because it is the exchanges that either use fake trading bots just to display boasted volumes on their exchanges, some even temper the stats to show that they are ahead of others in some pairs, i think this is happening due to so many exchanges and competition being tough so cmc cannot be blamed as it just uses simple APIs to fetch data from exchanges so they show whatever they get from these exchanges.

[Pamadar]

I doubt that you need to blame the CMC here. I am sure every sensible developer approaches the issue comprehensively studying all sides of the issue, including incorrect data from the CMC.
The primary reason that developers choose shitty exchanges is greed, they want to go cheaper on the exchange leaving most of the money to themselves.

That's The different between real developers and those scammers who are just after with investors money, for concerned and true to their works finding the right information and use all the data that they will be able to take advantage for more progress of their projects will be collected.
For those who are here to scam they will not be concerned about anything as long as they've done listing the project then they're free to runaway.

[Denongels]

Well we cannot say that coinmarketcap is directly related with fake volumes because it is the exchanges that either use fake trading bots just to display boasted volumes on their exchanges, some even temper the stats to show that they are ahead of others in some pairs, i think this is happening due to so many exchanges and competition being tough so cmc cannot be blamed as it just uses simple APIs to fetch data from exchanges so they show whatever they get from these exchanges.

You are right that fake volume problem is not all due to coinmarketcap, but some time (last year) there was someone who sent proof of a conversation about a transaction made by an exchange owner to cmc site owner and after the transaction was successful the exchange was very easy to enter the top 10 rank on this site, I don't know if the accusation is true or not because the person who sent the evidence suddenly closed his Twitter account, but judging from the many exchanges that have fake volumes that have high ratings there, I think it's true but I also still doubt about this.

[disconnectme]

What a false accusation, what Coinmarketcap never try to suppress or promote any exchange, what they do is that they arrange them in the order of trading volume, which to me is fair, why do I need to go to an exchange with no liquidity.

The fear of many people is how Binance is going to use coinmarketcap to their advantage  now that they have bought it.

[kingzpro]

I do not think that the people behind new projects or startups are so naive that they fall to statistics from just a data display paltform, the team should be competent enough to do their own research not only about volume but also active member base and the reputation of the exchange platform in the market but this can happen only if the team is really serious about their project and do not want to make even one wrong decision for their project and supporters.

[ATSgrowth]

I have heard that Coinmarketcap will be bought by Binance, this could lead into Binance's total monopoly and that would mean nothing good for the crypto world.   

[Valzador]

I have heard that Coinmarketcap will be bought by Binance, this could lead into Binance's total monopoly and that would mean nothing good for the crypto world.   

This will make everyone more sure to leave coinmarketcap, but there are still many fools who use the data from coinmarketcap as their reference to determine whether a project is good or not.

[CaVO32]

I have heard that Coinmarketcap will be bought by Binance, this could lead into Binance's total monopoly and that would mean nothing good for the crypto world.   

This will make everyone more sure to leave coinmarketcap, but there are still many fools who use the data from coinmarketcap as their reference to determine whether a project is good or not.

let's see when we get there. are they going to be biased or not? will there be a third party to audit the figures in CMC? I think they will employ auditors this time because people will always think that they can manipulate the numbers if they don't have the third party non biased auditor. But if this will gonna push thru, BNB taking over CMC, definitely there will be improvements. I am just wondering why BNB decided to acquire CMC?

[Utoy101]

Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges

No doubt, binance brought with it a lot standards that have really reshaped the entire cryptocurrency market towards more sophisticated trading experience. He once called out exchange and CMC for the fake volume being reported as they have a dent on what the entire cryptocurrency market stands for. With this acquisition, I'm sure binance will provide a better scripts and APIs that will record real volumes and statistics across cryptocurrency market. We are about to witness a major disruption to cryptocurrency market

[jhonjhon]

Coinmarketcap is the real reason why so many new projects devs are misleaded, they go to CMC and pick from the top rated exchanges to list their tokens because CMC gives all bad exchanges good rating, that's very misleading

Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges

Don't rely on rating coz most of them are paid reviews. If we want to use trading platforms better to choose that once existed for a long time and has a huge market volume. If that new project seems to be not listed out there, that gives no option but to take the high risk. This is really hard for a new project to survive because they are not listed on the top exchanges and might it happens that they are just ignored by traders and investors as they more focus n the top, not the lower rank.

[flagpara]

Coinmarketcap is the real reason why so many new projects devs are misleaded, they go to CMC and pick from the top rated exchanges to list their tokens because CMC gives all bad exchanges good rating, that's very misleading

Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges

Volume or security any way you check, Binance is the top one. Even in coinmarketcap has low volume, new projects has main focus to get listed Binance exchange, some even can't bear rules and cost. I think devs are smarter than us, they did it because new investor satisfaction. Binance can't support poor idea or inexperience team project.

[asriloni]

I have heard that Coinmarketcap will be bought by Binance, this could lead into Binance's total monopoly and that would mean nothing good for the crypto world.   

That's what I were thinking in the past. It's better to remove the scam exchange sites rather than keep it on CMC. I personally no problem to see binance will try to do a small manipulation on its CMC.
It's better to make everything clear to save the new comers from the misleading information that has already created by CMC

[ene1980]

Coinmarketcap is the real reason why so many new projects devs are misleaded, they go to CMC and pick from the top rated exchanges to list their tokens because CMC gives all bad exchanges good rating, that's very misleading

There is a twist to your understanding, the developers always look for exchanges that will list the coins with a minimum listing price, if you seriously think that these developers are not aware of the good exchanges in the market to list then they are not a good project, it is as simple as that  .

Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges

CZ is trying to control the entire market taking over every business and we will see a monopoly and they are even planning to launch their mining farms.

[JeotQ]

I think most new projects developers choose low exchanges because of low listing fees, although I've come across a few projects that raise hardcap successful and still choose a small exchange and when I asked why the team member replied that the exchange has good rating on coinmarketcap, so I can say you are half right OP

[bgaf]

This will make everyone more sure to leave coinmarketcap, but there are still many fools who use the data from coinmarketcap as their reference to determine whether a project is good or not.

Why do you say? Are you also one of Binance haters. Why would they leave a useful data source for trading. One thing can benefit users here is the fact that Binance will improve CMC. Believe it or not but that is the good part of their deal. Im also expecting a change like the fake volumes of cmc on different exchange that are noted and listed. Maybe we can see a true coin and token tracker once they are improvised it.

[Pffrt]

CMC may have different factors to rate exchanges which may or may not be correct in your opinion. If DEV of a project list their coin based CMC rank, they don't deserve to be DEV.They should have checked everything with their criteria than CMC. All the information of exchanges are public and there's no need to depend on CMC alone.

[itsv]

if the rumors are true and binance is taking over cmc then i think in terms cmc listing we may see some improvements as most of the shit coins/tokens will not be listed (hopefully) and i hope they show the real exchange volume for all other exchanges as well and don't manipulate the data for any personal gains. Lets see how other major exchanges see this move

[trauchot]

It is still unclear whether binance will buy cmc or not and it is generally not known what are binance plans for cmc, but I think cmc will develop much faster for sure and we hope that the fight against scam projects and scam exchanges will be much tougher.

[batang_bitcoin]

We'll see how CZ will take action with that problem. A lot of people were misled by the ratings given by CMC. CZ might retain the reputation of CMC for taking over it and will start to eliminate those projects and coins that shouldn't be there. If he does that, many will start to look forward and follow every decision that CZ will do from that day and with every move that he does.

It is still unclear whether binance will buy cmc or not

It's set to be acquired by them with a price of around $400M.