Topic: Be careful Many New Tokens on Coinmarketcap are - page 4. (Read 403 times)
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.
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.
legendary
Activity: 1288
Merit: 1491
The first decentralized crypto betting platform
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.
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.
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.
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. 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?
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.
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.
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.
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.i Remember that the website used to check every Token before publishing it to the public.
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.
Quote
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.
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 coinmarketcapMost 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?
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.
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?
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?
Jump to: