CoinMarketCap Changes - Broken the Trust of the Crypto Community?

[minairia3]

People doesn't seem to care about it, the exchange that bought CMC happen to have a good reputation in the market, so people would not complain if Binance will be in the top, I believe if they have manipulated the ranking, I think it's not grossly done, I am not seeing the obvious.

There will be a manipulation that will happened on CMC precisely Binance have planned this. Using this site to gain more attraction, CZ is very wise to bought this and I think he can get it back cause the traffic on this site and advertisement is really in demand. Let just hope that even with manipulation on the ranking and listed projects, he still improve and add more features that are useful for users.

But youre definitely right, many people loves using Binance so they would not much care if there are inside job happening on CMC.

[Vishnu.Reang]

People doesn't seem to care about it, the exchange that bought CMC happen to have a good reputation in the market, so people would not complain if Binance will be in the top, I believe if they have manipulated the ranking, I think it's not grossly done, I am not seeing the obvious.

I am not saying that they will rig the data. But there is a real chance that they might change their definition, so that the "adjusted" volume from exchanges such as Binance would resemble the actual (or claimed) data more closely. Anyway, there is no concrete definition for these two types of trade volumes (reported and ajusted) and it is open to the interpretation from the users.

[Pecunia non olet]

I do not understand why everyone has a problem with Binance's move. They are the most trusted crypto exchange that tries to be transparent and honest. Look at other exchanges they cheat, provide fake volume and you don't have problem with them?

[LbtalkL]

For me, Coinmarketcap is more realistic now, unlike before a new exchange comes out on top for a day because of fake volume which is not really good. The system now is far greater than the previous one. Web traffic and liquidity is more good basis on which exchanges has real users and not just bots. Yes, CMC has been acquired by Binance but I don't think they are biased. You can tell it yourself when you are trading on Binance compared to other exchanges, your orders fill sooner than on exchange with full of bots. Binance is not only an exchange they have adapted in many services that is what makes them on top right now.

[Tipstar]

The sudden change in the way they measure the volume to benefit their parent company in now way could be called a trusted move. It shows binance could do anything to boost it's image and make it look superior while the rival exchanges inferior using the name of cmc. Google search mostly brings CMC on number one spot when user searches for coin and price and most of the users won't know CMC is owned by binance when they visit. This is surely a manipulation of trust.

[Mianae]

The question we should ask is on what basis was Binance ranked number 1. Binance is most preferred by traders, it's the most used exchange by different traders aside being the best choice exchange, Binance has other developments being added to the cryptocurrency sphere in general. Let us not be too quick to give into bias on the ground of CMC being owned by Binance. We should have a thorough investigation of why it was ranked as the number one, what did the exchange do differently to gain the spot.

[Ucy]

People doesn't seem to care about it, the exchange that bought CMC happen to have a good reputation in the market, so people would not complain if Binance will be in the top, I believe if they have manipulated the ranking, I think it's not grossly done, I am not seeing the obvious.

There will be a manipulation that will happened on CMC precisely Binance have planned this. Using this site to gain more attraction, CZ is very wise to bought this and I think he can get it back cause the traffic on this site and advertisement is really in demand. Let just hope that even with manipulation on the ranking and listed projects, he still improve and add more features that are useful for users.

But youre definitely right, many people loves using Binance so they would not much care if there are inside job happening on CMC.

It's more like you are endorsing manipulations... Not suggesting that anyone is manipulating things over there, just think that evil shouldn't be encouraged atall in anyway else you get used to it. Besides, people with conscience would avoid the platform if it's manipulated, no matter how good it appears to be.

[wozzek23]

Recently, CoinMarketCap changed it's ranking system in regards to crypto exchanges, by some sort of miracle Binance (who bought the Website 6 weeks ago for a rumoured $400 million) is top.

What does everyone think about this? Has it broken your trust in regards to CMC being unbiased? Will you stop using their system? Or are you fine with another company investing to grow their reach?

What else you can expect from them when they might have spent big money like $400M? Definitely they will work for the way which will be benefiting and helping them to recover that $400M as quickly as possible. I guess there should be some different approach rather than completely removing the ranking system for exchanges in coinmarketcap. They removed ranking for exchanges so that they are able to list their own exchange binance at the top.

Previously coinmarketcap was blamed for showing fake volumes for both exchanges and coins and it is really unfortunate even under the new management we cannot have a fair ranking. I use coinmarketcap for references and honestly I do not make any investment decisions based on their ranking so personally I will not have any problem due to their manipulation/modification on ranking/listing.

[beetlejam]

Hello everyone,

Recently, CoinMarketCap changed it's ranking system in regards to crypto exchanges, by some sort of miracle Binance (who bought the Website 6 weeks ago for a rumoured $400 million) is top.

What does everyone think about this? Has it broken your trust in regards to CMC being unbiased? Will you stop using their system? Or are you fine with another company investing to grow their reach?

I wrote an in depth article about the situation, my own personal feelings and what can be done if we want to change this. You can check it out below, would be great if I got some feedback on it!


https://www.publish0x.com/crypto-101/coinmarketcap-changes-marketing-ploy-via-binance-or-an-impro-xlllxme?a=GELe3POa69


Also, if you are interested the blog is written on a crypto blogging platform, where you can log in, upvote articles and earn crypto for free for doing so. Currently you can earn BAT, DAI and LRC. There are over 100k users on this platform and it is growing every day, I believe it will soon take over Steemit as the biggest blogging platform.

You can sign up through the article / link above if you want to join the platform.

I see this as a problem, mostly because most newbies will use this site and think that Binance is the best exchange out there. I also expect to see more changes happening that will benefit Binance in the coming months.

Maybe we will see CoinBase buy one of the competitors lol.

By the way, nice article it's a great writeup about the situation.

[DoubleEdgeEX]

The way CMC was before the Binance takeover wasn´t ideal either, think of all the uncontrolled fake volume that got reported from various exchanges that now can´t be found in the Top10 anymore.

CZ is a smart man but he is also keen to expand his Binance universe so he will definately use this acquisition to his advantage and even if its just to have a detailed and always updated insight to the vokume of the other exchanges. E.g. He could easily adjust trading fees to a certain coin that is currently trending on Coinbase and get users to trade in Binance. The fact the he is still reluctant to tell the people where Binance HQ is located makes it even more problematic

[timmmers]

People doesn't seem to care about it, the exchange that bought CMC happen to have a good reputation in the market, so people would not complain if Binance will be in the top, I believe if they have manipulated the ranking, I think it's not grossly done, I am not seeing the obvious.

I am not saying that they will rig the data. But there is a real chance that they might change their definition, so that the "adjusted" volume from exchanges such as Binance would resemble the actual (or claimed) data more closely. Anyway, there is no concrete definition for these two types of trade volumes (reported and ajusted) and it is open to the interpretation from the users.

Finally it shows accurate trading volume, I remember when few days ago exchanges with the highest volume were: Latoken, P2PB2B and OKEX. Now it looks more realistic: Binance, Coinbase Pro and Bitmex. But also there is a question if not every exchange manipulate the volume because 100 billion USD a day is still a lot when market cap is only 200 billion! 

[iloveturtles]

Hello everyone,

Recently, CoinMarketCap changed it's ranking system in regards to crypto exchanges, by some sort of miracle Binance (who bought the Website 6 weeks ago for a rumoured $400 million) is top.

What does everyone think about this? Has it broken your trust in regards to CMC being unbiased? Will you stop using their system? Or are you fine with another company investing to grow their reach?

I wrote an in depth article about the situation, my own personal feelings and what can be done if we want to change this. You can check it out below, would be great if I got some feedback on it!


https://www.publish0x.com/crypto-101/coinmarketcap-changes-marketing-ploy-via-binance-or-an-impro-xlllxme?a=GELe3POa69


Also, if you are interested the blog is written on a crypto blogging platform, where you can log in, upvote articles and earn crypto for free for doing so. Currently you can earn BAT, DAI and LRC. There are over 100k users on this platform and it is growing every day, I believe it will soo take over Steemit as the biggest blogging platform.

You can sign up through the article / link above if you want to join the platform.

Nice article, thanks for sharing with the community.

Honestly I see this as okay as they have improved CoinMarketCap overall. If there are more changes we will have to judge them.

[shoreno]

People doesn't seem to care about it, the exchange that bought CMC happen to have a good reputation in the market, so people would not complain if Binance will be in the top, I believe if they have manipulated the ranking, I think it's not grossly done, I am not seeing the obvious.

There will be a manipulation that will happened on CMC precisely Binance have planned this. Using this site to gain more attraction, CZ is very wise to bought this and I think he can get it back cause the traffic on this site and advertisement is really in demand. Let just hope that even with manipulation on the ranking and listed projects, he still improve and add more features that are useful for users.

But youre definitely right, many people loves using Binance so they would not much care if there are inside job happening on CMC.

It's more like you are endorsing manipulations... Not suggesting that anyone is manipulating things over there, just think that evil shouldn't be encouraged atall in anyway else you get used to it. Besides, people with conscience would avoid the platform if it's manipulated, no matter how good it appears to be.

its okay if thats what you think bro  . people are not the same ,  some will be blinded by the truth just because they are happy using the exchange and they experience no problem but some simply does not like issues such as manipulations  .  on other comments i heard cmc looks realistic now than before  . this makes me trust  them more if i were to ask   . i dont also question if binance will be ranked on top because i myself also notice how binance took the world by storm 

[Cryptogiji]

Hello everyone, So i wrote a part two since the most recent changes to CoinMarketCap. The new rating seems to punish some of Binance's biggest competitors. As you can see from the ranking changes

Daily Trading Volume vs Rank on #CoinMarketCap

OKEx - 5th - Ranked 36th
Deribit - 61st - Ranked 179th
Bybit - 24th - Ranked 177th
BitMEX - 6th - Ranked 175th

What do you think about this? My part two can be read on the link below.

https://www.publish0x.com/crypto-101/the-coinmarketcap-binance-conundrum-rises-again-pt-2-xgdlomv?a=GELe3POa69

[Malam90]

Hello everyone,

Recently, CoinMarketCap changed it's ranking system in regards to crypto exchanges, by some sort of miracle Binance (who bought the Website 6 weeks ago for a rumoured $400 million) is top.

What does everyone think about this? Has it broken your trust in regards to CMC being unbiased? Will you stop using their system? Or are you fine with another company investing to grow their reach?

I wrote an in depth article about the situation, my own personal feelings and what can be done if we want to change this. You can check it out below, would be great if I got some feedback on it!


https://www.publish0x.com/crypto-101/coinmarketcap-changes-marketing-ploy-via-binance-or-an-impro-xlllxme?a=GELe3POa69


Also, if you are interested the blog is written on a crypto blogging platform, where you can log in, upvote articles and earn crypto for free for doing so. Currently you can earn BAT, DAI and LRC. There are over 100k users on this platform and it is growing every day, I believe it will soo take over Steemit as the biggest blogging platform.

You can sign up through the article / link above if you want to join the platform.

*Edit - since writing this article, CoinMarketCap has changed their rating system, which now punishes Binance's competitors. Below is the link to the second part of the article.

https://www.publish0x.com/crypto-101/the-coinmarketcap-binance-conundrum-rises-again-pt-2-xgdlomv?a=GELe3POa69

What do you think about the recent updates?

Coinmarketcap is more trusted position now after the purchase of it although Binance is the top exchange in the new ranking system. Binance is the top exchange, there is no disagree with it by many factors. Trading volume here is more than other exchanges. Receiving web traffic %, number of markets, average liquidity is more than other exchanges.

[Cryptogiji]

Hello everyone,

Recently, CoinMarketCap changed it's ranking system in regards to crypto exchanges, by some sort of miracle Binance (who bought the Website 6 weeks ago for a rumoured $400 million) is top.

What does everyone think about this? Has it broken your trust in regards to CMC being unbiased? Will you stop using their system? Or are you fine with another company investing to grow their reach?

I wrote an in depth article about the situation, my own personal feelings and what can be done if we want to change this. You can check it out below, would be great if I got some feedback on it!


https://www.publish0x.com/crypto-101/coinmarketcap-changes-marketing-ploy-via-binance-or-an-impro-xlllxme?a=GELe3POa69


Also, if you are interested the blog is written on a crypto blogging platform, where you can log in, upvote articles and earn crypto for free for doing so. Currently you can earn BAT, DAI and LRC. There are over 100k users on this platform and it is growing every day, I believe it will soo take over Steemit as the biggest blogging platform.

You can sign up through the article / link above if you want to join the platform.

*Edit - since writing this article, CoinMarketCap has changed their rating system, which now punishes Binance's competitors. Below is the link to the second part of the article.

https://www.publish0x.com/crypto-101/the-coinmarketcap-binance-conundrum-rises-again-pt-2-xgdlomv?a=GELe3POa69

What do you think about the recent updates?

Coinmarketcap is more trusted position now after the purchase of it although Binance is the top exchange in the new ranking system. Binance is the top exchange, there is no disagree with it by many factors. Trading volume here is more than other exchanges. Receiving web traffic %, number of markets, average liquidity is more than other exchanges.

I think there is no doubt that Binance is a great exchange, but the recent changes are just punishing their competitors. C'mon BitMEX ranked so low so nobody sees it, yet has one of the highest trading volumes and even in their website traffic factor is ranked 2nd.

OKEX should be 4th with daily trading volume, 6th with the website traffic ranking but has been moved to 36th. How do you explain this?

They are destroying the validity of CoinMarketCap for a marketing tool. 

[IMAR]

I can't see Binance using CMC for it's personal agendas. When they do that their reputation will be affected. But of course, Binance will be a bit bias and maybe not giving the other alts to grow in the market.

[Doranile432]

I accept the fact that binance turn the 1st on coinmarketcap, to me this is the best crypto exchange in crypto space, they deserve that position, it's hardworking and now exchanges ranking have changed, Liquidity is been used for rating instead of volume

[hd49728]

After ownership changed to Binance lately, coinmarketcap.com now has a chat place for us. You can see it on the right side of the Search box, "Introducing chat - a new way to engage with crypto community. Try it now!". Nevertheless, people have to create accounts, log in to join conversations at https://coinmarketcap.com/chat/

Source: https://coinmarketcap.com/

[iv4n]

After ownership changed to Binance lately, coinmarketcap.com now has a chat place for us. You can see it on the right side of the Search box, "Introducing chat - a new way to engage with crypto community. Try it now!". Nevertheless, people have to create accounts, log in to join conversations at https://coinmarketcap.com/chat/

Source: https://coinmarketcap.com/

I saw that, but didn't try it, maybe I will not try it at all! I don't see any purpose of that chat. Coinmarket cap was and is just a site where you can check some basic info, and there are other similar sites with the same purpose. I don't understand how can they broke the trust when I didn't trust them in first place, gather some info, some movements, but for more concrete info I don't relay on them, no one should.
Who knows what binance plan to do with this site, but I will continue to use it in the same way until not, just for fast checking and nothing more.