What is happening about WallStreetBets?

[palle11]

I opened coinmarketcap.com this morning and was surprised to see WallStreetBets ahead of bitcoin but with 0 rank. Is this a mistake from cmc or we about to see another turn of pump like that which happened with yearn.finance (YFI)?

WallStreetBets has 0 position and having done  134.84% within the last 24hours while bitcoin is down with 0.49% within 24hours and still occupying number 1 spot, followed by etheruem as number 2 etc.

Do you know what is happening? What can you make out on it

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[Charles-Tim]

I opened coinmarketcap.com this morning and was surprised to see WallStreetBets ahead of bitcoin but with 0 rank

That is how Binance has been misleading after it was purchased by Binance CEO. But, if you look at this very well, it should not mislead you. WallStreetBets is ranked 0 because it is a coin that many fomo turned out to buying recently and make it see surge in price and marketcap. Currently, WallStreetBets is having a marketcap of $24,846,486,000 which is nothing to compare to ethereum not to talk of Bitcoin. Bitcoin remain in the first position because it is still the strongest cryptocurrency.

Is this a mistake from cmc or we about to see another turn of pump like that which happened with yearn.finance (YFI)?

Not a mistake, Bitcoin remain the strongest and you will see it as the first which is ranked number 1.

WallStreetBets has 0 position and having done  134.84% within the last 24hours while bitcoin is down with 0.49% within 24hours and still occupying number 1 spot, followed by etheruem as number 2 etc.

Bitcoin ranked number 1 spot while Ethereum is the second. WallStreetBets has no place yet, and still ranked 0 most possibly because CMC has never do all appropriate to know if truly WallStreetBets marketcap is correct or not.

Do you know what is happening? What can you make out on it

WallStreetBets has been the talk in town on one Chinese social media and have one of the higher subreddit subscribers. With the influence of this, doge coin was even pumped recently follow by ripple. But, be it how strong this is, it is still nothing before Bitcoin.

You can read this about WallStreetBets to have better clarification.

More than 200,000 Redditors joined the page last week.
https://cointelegraph.com/news/bitcoin-subreddit-hits-2m-subscribers-following-gamestop-controversy

Dogecoin, the quintessential meme crypto, is being pulled on a leash by yet another social media-driven hype.
https://cointelegraph.com/news/doge-price-surge-the-power-of-memes-and-social-media-on-full-display

https://cointelegraph.com/news/gamestop-short-squeeze-highlights-the-power-of-decentralization

[Reid]

It's not a mistake. 
I was also shocked days ago when I saw it.
Let's just say they paid pretty well to make CMC put them on the top.
Of course, it's a paid advertisement. They won't just list you there just like that.
Well, it did help. The hype is still happening but I am predicting it will be over soon.

[leea-1334]

Myself am so tempted to go in and join the fun but thankfully,,, having already been burnt badly in 2017, I will step away from the madness and just go about my daily life. I think crypto is full of lucky people but it is even more full of unfortunate ones who think they can get in on the luck. I was one of the latter, I prefer not to repeat it again:)

[amishmanish]

That is just CMC's way of letting millions of crypto users know about the GME squeeze. This is essentially a fight between retail investors and the hedge funds who had bet on the company GameStop going bankrupt. A lot of people on the reddit channel of the same name have decided to hold on to GME shares and cause a supply shortage for hedge funds (who need those shares at ever increasing prices to close their shorts).

It has exposed a lot of the criminal madness in the way financial institutions are functioning. Democratization of finance and DeFi is going to be pretty bloody.

[bryant.coleman]

This is how Binance is using CoinMarketCap to manipulate the cryptocurrency market. Actually I was expecting something like this ever since Binance purchased CMC in 2020 for $400 million. Back then, a lot of people were asking why Binance would pay this much for a very simple website. I guess now everyone has got the answer. They will use CMC to manipulate the market, just like what they are doing with WallStreetBets. BTW, I don't think that the market cap of $25 billion, which is being claimed by CMC is true. If you take out 99% of the coins from active circulation, then the remaining 1% will be having an inflated valuation. And for calculating the market cap, they will use 100% supply instead of 1%.

[OcTradism]

This is how Binance is using CoinMarketCap to manipulate the cryptocurrency market. Actually I was expecting something like this ever since Binance purchased CMC in 2020 for $400 million. Back then, a lot of people were asking why Binance would pay this much for a very simple website.

It is a big deal but I don't agree that it is not worth a big price if it is a simple website. The popularity and traffic if one website is a determinant factor, not simplicity or complexity it has. Coinmarketcap has been the most famous website in crypto market for so long. It make sense why Binance decided to buy coinmarketcap, not coingecko.

I guess now everyone has got the answer. They will use CMC to manipulate the market, just like what they are doing with WallStreetBets. BTW, I don't think that the market cap of $25 billion, which is being claimed by CMC is true. If you take out 99% of the coins from active circulation, then the remaining 1% will be having an inflated valuation. And for calculating the market cap, they will use 100% supply instead of 1%.

I don't simply consider it is a market manipulation but Binance broke their reputation with this tweet from CZ.
Changpeng Zhao ‘CZ’ discloses why SUSHI token got Binance listing

“For SUSHI, I don’t know who the founder is. If we [Binance] don’t list new DeFi [decentralized finance] coins, traffic goes to other exchanges, and we become … obsolete. We provide access to liquidity, we don’t force you to buy. All coins are high risk, especially DeFi.”

[SquallLeonhart]

I can't believe all this many people are soooooo wrong. Like how the hell are you so wrong about something and can talk about it without even checking what it is? This is literally a joke, it is not a real coin and it doesn't even exists!! It is just a joke about the GME situation going on in wallstreetbets and that's it, there is no manipulation there is no binance deal, this is just a joke, think of it like April fools day type of deal and not real.

You can click on it and read all that they are saying,  they literally say that it is not a real coin and there is no market for it that you can buy and it is just a way to show support of the wallstreetbets subreddit right now and nothing more. If you seriously want to talk about something without even checking what it really is, that means you deserve to be ignored and from now on every single thing you say is null point, you can't even spare one minute to read? Then you do not deserve to be read neither.

[tabas]

I can't believe all this many people are soooooo wrong. Like how the hell are you so wrong about something and can talk about it without even checking what it is? This is literally a joke, it is not a real coin and it doesn't even exists!! It is just a joke about the GME situation going on in wallstreetbets and that's it, there is no manipulation there is no binance deal, this is just a joke, think of it like April fools day type of deal and not real.

Yeah, upon clicking there's this message in red that says it's a joke. Well, CMC got the humor of including it and putting it at #0 which makes it visible than any other altcoin that others are talking about. 

Myself am so tempted to go in and join the fun

Don't be so serious, it's just a joke made by CMC and its price never changes to $483 ever since it has existed.

[kindbtc]

I opened coinmarketcap.com this morning and was surprised to see WallStreetBets ahead of bitcoin but with 0 rank. Is this a mistake from cmc or we about to see another turn of pump like that which happened with yearn.finance (YFI)?

WallStreetBets has 0 position and having done  134.84% within the last 24hours while bitcoin is down with 0.49% within 24hours and still occupying number 1 spot, followed by etheruem as number 2 etc.

Do you know what is happening? What can you make out on it

This profile is just an influencer that is kind of shilling some coins, till now thay have successfully pumped dogecoin and there are rumors that trx will be the next coin that will be pumped, to be honest i do not really think that coins with so high market cap can be shilled and pumped this way but somehow they seem to have been successful.

[bekti3]

If I'm not mistaken, there has never been a position like this that happened at CMC between the beginning of 2019 and 2020, I forgot the name of the coin that was ranked above bitcoin, didn't even last long, please remind if anyone knows the name of the coin because I really do. forgot and didn't have a screenshot at the time.

[leea-1334]

This is how Binance is using CoinMarketCap to manipulate the cryptocurrency market. Actually I was expecting something like this ever since Binance purchased CMC in 2020 for $400 million. Back then, a lot of people were asking why Binance would pay this much for a very simple website. I guess now everyone has got the answer. They will use CMC to manipulate the market, just like what they are doing with WallStreetBets. BTW, I don't think that the market cap of $25 billion, which is being claimed by CMC is true. If you take out 99% of the coins from active circulation, then the remaining 1% will be having an inflated valuation. And for calculating the market cap, they will use 100% supply instead of 1%.

Exactly,,, I think what the wallstreetbets thread just did was expose what the big whales have always been doing anyway. Shorting what they know is being overbought and all this in coordinated movements. Retail investors now showed how bad that is for the market,,, hence all the hoohah.

People should stop using data like that to inform their buying decisions.

[eucalyptus]

It is a joke as Coinmarket did before on april fools day also. It means that they support them. IT looks like there is a fight in the market and some strong hands or whales are trying to attack each other. But WSB changed many things in the market and it looks like change started.

[cryptonx]

It is a joke as Coinmarket did before on april fools day also. It means that they support them. IT looks like there is a fight in the market and some strong hands or whales are trying to attack each other. But WSB changed many things in the market and it looks like change started.

indeed its only a joke,
so for the OP don't take it seriously, and i suggest the OP to click the link about WSB on coinmarketcap and i believe he will know what Wallstreetbets is

[TheBeardedBaby]

I try to warn people that this token/coin doesn't exist and it is only a joke but there are coins/ tokens coming out all the time to pretend they are endorsed by WSB, so stay away from them if you see any. There are even on the forum.
Those are just scammers.

[Renampun]

please check again on coinmarketcap.com that it is very clear that it is just a joke...
I'm just wondering how long that joke token has been on coinmarketcap. 

[masulum]

I try to warn people that this token/coin doesn't exist and it is only a joke but there are coins/ tokens coming out all the time to pretend they are endorsed by WSB, so stay away from them if you see any. There are even on the forum.
Those are just scammers.

Exactly, most of joke token under YF turn out to be a scammer, They are join in hype of the current issue and left while community buying in the Top. I have experience with several coin, join in Fomo to take advantage, but as you know, they are gone within 24h. From this experience, I'm not buy any joke token anymore if they are not listing in reputable exchange. if they are just using AMM exchange, they are easy to go.

[bittick]

I'm just wondering how long that joke token has been on coinmarketcap. 

As long as WSB community is still active and this joke token might be listed forever lol
It's just like an appreciation that already given by CMC about that. Im seeing it as a medal for WSB community to create the hype for dogecoin and that makes doge worth a few pennies right now.

[bryant.coleman]

please check again on coinmarketcap.com that it is very clear that it is just a joke...
I'm just wondering how long that joke token has been on coinmarketcap. 

LOL.. they really got everyone off-guard. I take back my words.. and to date I don't have any evidence to claim that Binance is using Coinmarketcap for manipulation of the cryptocurrency market. But at the same time, I have to say that CMC is having a huge influence in the market. A lot of investors use their data for decision making and previously some of the lesser known projects used to manipulate their trade volumes so that they could get listed in CMC (now they have changed the criteria for listing and such manipulation no longer takes place).

[beerlover]

It was seriously not something I have expected during this period, it is really not something we are familiar with coinmarketcap doing however people who didn't read at all and still gave feedback are really ill-intended people.

There is really no explanation of why you would do something like this, there is no excuse for what you would do something like this, it is seriously just because there are bad people out there who want bad things to happen to everyone and that's it, they expect everyone to be bad as well. Why would anyone see a joke, maybe you wouldn't understand it, but why would you not even click and read it and still make type of comments like you read it and you would talk about it like it is such a bad thing and it is such a bad speculation and manipulation and then when you realize you do not even apologize for what you have done.