Be careful Many New Tokens on Coinmarketcap are

[DJANAS]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

[tech30338]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

I think they don't just add a coin if they see it, they are still some things to consider before being listed in coinmarketcap
here is what I see while looking :
https://support.coinmarketcap.com/hc/en-us/articles/360043659351-Listings-Criteria#:~:text=Must%20have%20a%20functional%20website,of%20communication%20for%20any%20clarifications.

[SquirrelJulietGarden]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.

i Remember that the website used to check every Token before publishing it to the public.

They have their own checking and verifying criteria before listing a token there.

They don't require projects give their KYC documents to approve listing request. It did not apply in the past but after the DeFi and GameFi, NFT, Metaverse trend in 2020 to 2022, I saw Coinmarketcap did a great improvement by attaching their warning on mint function in smart contract. It serves a purpose to remind investors that those project teams can mint more tokens in future with the Mint function.

Most of these currencies collapse during the first weeks of its launch.

Altcoins are pump and dump games which are not responsibility of Coinmarketcap to control.

They only can reduce rug pulls for investors with their criteria. Rug pulls usually occur with projects that list their tokens on DEX, Poocoin and they even don't have chance to appear on Coinmarketcap.

[Darker45]

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It is not a site where people could check whether a project has a plausible goal or not, whether it has a good team or not, whether it will have a future or not, whether it has a working product or not, and so on. The site is full of shitcoins that are nothing but opportunistic attempts for developers to earn money. So don't use it as a kind of a screening or review site. Even review sites can't be trusted.

[Awaklara]

even though coinmarketcap has procedures or criteria for tokens to be registered. but I guess checking the team or whatever is not the concern of coinmarketcap. the website will only pay attention to trades that occur.
and logically, the new token market is what it's always been. especially those without strong backing funds. they will be very easy to pump and also very easy to dump. it's not far from what we see with shitcoin and meme coin. I will not forbid anyone to trade new tokens. but better be more careful. everyone must understand the risks.

[jeraldskie11]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

Yes, I have noticed that. I thought at first that you have to pay to be listed in Coinmarketcap but I'm wrong, the listing is free. As long as you fit into their criteria you will be listed. So the question is why there are many listed scam tokens since the listing is free? "Maybe" it's because of the donations.

[Don Pedro Dinero]

The bad news is that with over twenty thousand alts and tokens out there, it's hard for anyone approaching it at first glance to understand that there is only one digital currency that is essentially different from the others.

Altcoins are pump and dump games which are not responsibility of Coinmarketcap to control.

And those that are not pump and dump have other disadvantages, such as premining or being centralised.

In the end, people learn the hard way. They invest in some alt/token hoping to hit the jackpot, lose the money and if we are lucky, they do more research and end up understanding what bitcoin is.

[rat03gopoh]

I had connections to people who worked at CMC throughout 2019 and recommended 2-3 projects to be listed there that met the requirements as before (at least listed on 2 exchanges). A few months later I no longer work with them, because apparently they changed the rules exclusively. Some projects that have even been launched for only 1 week (especially shitcoin) without any clear progress have the privilege to be listed with an "untrackable" mark.

[Outhue]

I believe that the CoinMarketCap team is doing better than Coingecko, on CMC if a coin or token is shady you will get a warning right on top of the token, saying that, be careful investing because the dev can increase tax amount or the smart contract can be halted, this means if you buy you may not be able to sell, but on coin gecko, some tokens get listed and they are a scam, no single warnings from the team. Be warned, using Coinmarketcap or coin gecko for choosing new projects is wrong, you need to do your research, these platforms are there to give you the right information about any crypto project, that's all, they don't give investment advice, so use them right.

[cryptoaddictchie]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

Maybe a rumor or a vague statement. Im pretty sure coinmarketcap list some of the project with required classification on their prerequisites. Im not a fan of coi marketcap, but they are doing great I think. If you think they are lousy on listing tokens then kindly message them cause as long those project are good with the assesment whether they are anonymous or what they will list it especially if they have volume which traders might click on their website to have reference of information.

[joeperry]

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

[yazher]

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

The problem here is, those newbies are using it to look for a coin to invest their money with without knowing they are about to fall into the scammer's trap where they are lured to invest in shitcoins. Most people are not aware of the danger of looking to scrap some new altcoins in the Coinmarketcap because they don't know that it is not for the place to look for new coins rather it's just to check its price.

[bakasabo]

I think anyone can add anything to coinmarketcap, but coinmarketcap only this information as a basic information about the project or token. There are thousands of altcoins that are not traded anywhere, but they still on aggregators like cmc or coingecko. There are even people or groups that offer "coinmarketcap listing". You fill online submission form and wait. Most likely coinmarketcal will add altcoin to general list if project looks more or less legit. In fact, they are interested in adding as many as possible alts, as users are redirected from coinmarketcap to trading platform and coinmarketcap earns affilate rewards, or users can buy directly from coinmarketcap. In short - the more they add, the more commission they earn.

[vv181]

Listing criteria on CoinMarketCap does not really tell anything, let alone prove the cryptocurrency or token's legitimacy. It is also not the job of the coin/token aggregator to verify the project itself. Neither the users also should rely upon CMC or any similar websites, it is expected that the user themselves should run through their own due diligence.

Back to the CMC part, if we take a look at the current total listed cryptocurrencies, only a handful of cryptocurrencies are worth taking a look at, say only the fifth page from its total page, 90. So being listed on CMC doesn't imply any significance of a project, in fact, some project favour that CMC listing as part of the project's milestones, which is it's a truly shady decision.

[iv4n]

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

Coinmarket, coingecko, and some other similar sites are useful for a quick review of some projects. Except for info where some coins/tokens can be exchanged, there are direct links to their sites, along with the price statistic. But as both of you pointed out, people should not rely only on these sites when they are looking for investments. It can be a good start, but nothing more than that...

When it comes to "new tokens on Coinmarketcap" I tried to remember 2015 and how cryptos were listed at that time... anyway, this is how it looks now:


I found an old image on the internet:


So 20k new listings in some very short period... I guess it's the question when we will see 30k, maybe this year?

[passwordnow]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

You've noticed it quite late. They've been doing that even before the acquisition of Binance. That's why it has become the standard of most projects to be listed there because they're the most popular listing crypto website.
It's essential that we tell everyone who's new to the market to DYOR because that will help them to avoid these projects that don't really have good intentions for the community.
They are there to scam people and will just rug pull whenever they feel that they've got enough profit already.

[judeafante]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team,goals, and if it's legit.
Most of these currencies collapse during the first weeks of its launch.
i Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

They are adding because these tokens have met the requirements they laid out even useless and scam projects can get in because they know how to tweak the project to make it look good in the eyes of investors and Coinmarketcap team, Coinmarketcap or Coingecko are not the parameters anymore to check if the project is legit.
In fact every year there are hundreds of coins or tokens listed on these two market aggregators that do not have volume or updates anymore.

[maydna]

Yes, I noticed that now on the market, there are more and more new tokens that we don't know what functions and uses they have for us. Indeed they say that their project will provide something different from previous projects or other projects, but we don't know which project can survive through every cycle in the crypto market.

I don't pay much attention to such token projects and stick with other big coins. This will make it easier for me to get coins that might have the potential to increase in the next altcoin season.

[Darker45]

This has always been the way with Coinmarketcap. But it is not a big deal. Coinmarketcap is not a site where one could verify whether a coin or token is legit or not. It
...

That's true, I've seen a lot of shitty coins that was listed before on the Coinmarket cap and it's on the "Trend" section too which give that coin more exposure but that doesn't mean they are legitimate and trusted project, they don't have any strict requirements and they are just there to provide data about that coin and not encourage to buy that coins. It's the job of the investor if they are going to invest to that project or not but the Coinmarketcap will just show data of that coin, brief information and where it can be exchanged.

Coinmarket, coingecko, and some other similar sites are useful for a quick review of some projects. Except for info where some coins/tokens can be exchanged, there are direct links to their sites, along with the price statistic. But as both of you pointed out, people should not rely only on these sites when they are looking for investments. It can be a good start, but nothing more than that...

But if we compare Coingecko and Coinmarketcap, it is obvious enough that it is a lot easier for a coin or token to get listed on Coinmarketcap than Coingecko. As of this writing, Coinmarketcap has already admitted 22,547 cryptocurrencies while Coingecko has only 12,319. There's a huge difference, almost double, which could mean that more shitcoins are probably listed on Coinmarketcap than Coingecko. So while both are not reliable sites as far as legitimacy of the coins or projects are concerned, it is better to check Coingecko than Coinmarketcap.

[Odusko]

I noticed that Recently CoinMarketCap website has been adding new Tokens without verifying the Token team, goals and if it's legit.
Most of these currencies collapse during the first weeks of their launch.
I Remember that the website used to check every Token before publishing it to the public.
Has anyone noticed that as well?

The so-called new coins are just refurbished scams that have happened before and are just rebranding in another form just to scam investors, so coin market cap is just a platform that is free for all and as long as the coin can meet the requirements they're listed on the sites.
Most of the coins that are recently listed on coinmarket capitalization are mostly pump-and-dump coins, but what we must know as investors are to make our own personal research about any project we want to invest in.