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.
Topic: CMC Misleading new projects - page 6. (Read 788 times)
My advice is to stay away from CMC. Fortunately there are many alternatives and it is wise to check different ones and compare them to each other so you can take your own conclusions. There have been many complaints about CMC not being trusted and faking volume, and now with Binance acquiring it I expect to be much worse.
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
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
There is no problem to be a fan of binance or cz or both, but it is wrong to falsely accuse coinmarketcap. They have terms and conditions as regards token that can be listed there.
Away from that, coinmarketcap needs to maintain its in-dependency from other exchanges, that is the beauty of decentralization.
Binance should remain binance, while coinmarketcap should also remain independent.
We can't have an exchange platform control the whole market price and volume platform.
hopefully as soon as the coinmarketcap problem can be resolved so that no more novice investors are trapped by the exchange of fake volumes.
Coinmarketcap has been leading this industry for quite sometime now with their fake values. I remember sometime back in 2018 when they had a bug which made most coins increase over 200% without any actual trading volume.
My once high respect for coinmarketcap is no more since coinmarketcap start supporting fake and scam projects including scam exchanges with fake volume and watched trades, imagine giving p2pb2b exchange a good rating whereas it's scam exchange
Binance owning Coinmarketcap is enough of a reason, why I wont use it anymore. Information like that is very important to keep decentralized. Sooner than later, we'll see Binance ads all over Coinmarketcap, CZ controlling it will lead to competitors being removed from the site itself perhaps.
I'll use Coingecko instead, which has been far better in terms of actually removing wash trade exchanges from the list of "most popular exchanges".
I hope DEX's will be listed, and actually recognized eventually as well, as it's probably where we're heading next. DEX's allows anyone to trustlessly exchange without undergoing KYC, for this reason alone, I'm buying Blocknet coins while they're cheap.
I'll use Coingecko instead, which has been far better in terms of actually removing wash trade exchanges from the list of "most popular exchanges".
I hope DEX's will be listed, and actually recognized eventually as well, as it's probably where we're heading next. DEX's allows anyone to trustlessly exchange without undergoing KYC, for this reason alone, I'm buying Blocknet coins while they're cheap.
It's harsh on coinmarket cap to be accused just like that yeah maybe they put out wrong volumes but there aRe also exchanges which do wash trading and fake volumes to attract more traders to them. It would be tough for some outsider to catch these wash trades and report them accurately.
I'd blame the project developers if you ask me. It's always recommended to get information from more than one data sources. Given the fact that the general consensus is that Coinmarketcap is shady in their dealings and listings, They should've opt for other top exchanges. Even the average crypto user knows the best exchanges currently available in the space and they're nothing like Coinmarketcap's top exchanges.
It's a known fact that Bitforex, Bilaxy and the likes practice wash trading.
It's a known fact that Bitforex, Bilaxy and the likes practice wash trading.
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
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
This is a big development, we'll see if the new management will change the current setting and we will see the real standing and status of various exchanges, if we can see the real volume and the right exchange are only get listed, in their platform then we will lessen projects that are getting listed in exchanges where volume is questionable.
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
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
I do not really want to blame CMC,,, I mean if project developers still want to take data from a source everybody knows is not accurate, I would blame the devs, not CMC. I mean, why go to CMC and trust them when they should be doing their own resources? CMC is not independent and takes fees like most other sites, right?
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
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
Thats very shallow accusation. Of course these developers are knowledgeable as well of cmc listing fake exchange volumes. The good side of Binance acquiring CMC is the probable improvement with its features. You know how efficient Binance when in terms of progress. They always wanted to forward and advance their standing on competitors. Not sure if the deal with CMC will push through but this is probably one good news for this year in spite of covid.
CMC is a useful site for crypto community, CZ knew we kept using it and they will offer amounts for it to be acquired. Thye also knew the ratings there in CMC are too much to be true which I guess they are taking over it for it to be more transparent. There is something to be done in CMC for the market to recover and I suppose we all can see Binance are doing great job in making negotiations to buy and acquire properties. They certainly can make improvements of CMC and provide real and correct data.
CZ taking over it might be healthy for the site. Perhaps most of the accusations and allegations raised concern the site will all be rescinded. It is really on great concern to see those sites that do not worth being at the top, to be seen there. I just hope CZ does not also use it against his competitors because that is another issue.
I don't know much about MXC but bilaxy and bitforex having the best trading volume is a big lie, bitforex is well known for fake volumes and many new projects that end up there are not doing well at all, I'm pretty sure that CZ will do a wonderful job on Coinmarketcap
Most of the times, when I go to use Bitforex, I almost get frustrated, because I might not be patient enough to see fake volume just popping up, with no real trade.
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
according to coinmarketcap these are the 3 exchanges with the most volume:
1- Bilaxy
2 - MXC
3 - BitForex
source: https://coinmarketcap.com/rankings/exchanges
who uses these exchanges?
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
it really starts to see that things are very strange, there are exchanges that I never heard of that are at the top in the coinmarketcap ranking
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
That's why after binance has bought CMC and all of those shitty exchange sites will be removed instantly. Some developers were also getting trapped on the crap exchange site too. They are getting scammed by paid to be listed on IEO but the result is not like what they have already expected. I will say that if all of the crap exchange sites must be removed. Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
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
according to coinmarketcap these are the 3 exchanges with the most volume:
1- Bilaxy
2 - MXC
3 - BitForex
source: https://coinmarketcap.com/rankings/exchanges
who uses these exchanges?
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
it really starts to see that things are very strange, there are exchanges that I never heard of that are at the top in the coinmarketcap ranking
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
according to coinmarketcap these are the 3 exchanges with the most volume:1- Bilaxy
2 - MXC
3 - BitForex
source: https://coinmarketcap.com/rankings/exchanges
who uses these exchanges?
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
it really starts to see that things are very strange, there are exchanges that I never heard of that are at the top in the coinmarketcap ranking1 - bi
2 - nan
3 - ce
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
according to coinmarketcap these are the 3 exchanges with the most volume:
1- Bilaxy
2 - MXC
3 - BitForex
source: https://coinmarketcap.com/rankings/exchanges
who uses these exchanges?
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
it really starts to see that things are very strange, there are exchanges that I never heard of that are at the top in the coinmarketcap ranking
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
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
Thats very shallow accusation. Of course these developers are knowledgeable as well of cmc listing fake exchange volumes. The good side of Binance acquiring CMC is the probable improvement with its features. You know how efficient Binance when in terms of progress. They always wanted to forward and advance their standing on competitors. Not sure if the deal with CMC will push through but this is probably one good news for this year in spite of covid.
CMC is a useful site for crypto community, CZ knew we kept using it and they will offer amounts for it to be acquired. Thye also knew the ratings there in CMC are too much to be true which I guess they are taking over it for it to be more transparent. There is something to be done in CMC for the market to recover and I suppose we all can see Binance are doing great job in making negotiations to buy and acquire properties. They certainly can make improvements of CMC and provide real and correct data.
OP is right, it's not a wrong accusation, coinmarketcap lists on bad exchanges as well rated exchanges, developers won't listen to anyone if you try to earn them, maybe it's because CMC gives such exchanges good rating? I though it would be after after CMC introduce liquidity rating but it's not
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
Maybe now that Binance CZ is about to take over, new projects developers will start making the right decision about those Exchanges
Thats very shallow accusation. Of course these developers are knowledgeable as well of cmc listing fake exchange volumes. The good side of Binance acquiring CMC is the probable improvement with its features. You know how efficient Binance when in terms of progress. They always wanted to forward and advance their standing on competitors. Not sure if the deal with CMC will push through but this is probably one good news for this year in spite of covid.
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