Topic: Huobi's VP accuses BNB and CMC for 'distorting' crypto rankings (Read 207 times)
Could it really be that cz is using his influence as new owner of cmc to manipulate data! It will really not be a good thing if he does that, many people are expecting a different administration and see things run better than what it use to be, by doing this, it will appear as if nothing has changed, people already complain of cmc given false data and cz doing this will really confirm it is true.
Was houbi ranked ahead of binance before or they just want to criticize it now that cz binance is part of the management! If they were ahead of binance before and was suddenly taken aback it would seem like what they claim but if that's not the case then they are just throwing shade in my opinion.
This criticism is expected even before the Binance acquire the cmc. However, after binance acquire the CMC, they launch series of information gathering strictly from people that visit the site asking them what they want to see improved in the coinmarketcap. According to the report shared on their twitter page, a lot of people want them to readdress the exchange ranking system by making sure exchanges that are faking volumes are taking care of. I believe they have the criteria they used to rank those exchange. The Huobi VP could have suggest his own view as part of the ranking system rather than attacking them. By the way, CMC is not the only ranking platform Coingecko is also there and each of them have different criteria for ranking.
you can't find a transparency for CMC when it's acquired by an exchange, the owner can easily manipulate the data that they will put but it will be hard for people to question since Binance itself is not a shitty exchange, in fact people think that Binance is the number 1 exchange.
Correct, so we don't know if this is a good move from Binance to acquire CMC in the first place because they are going to be accused of data manipulation.
What's important is a lot of happy users of the sites than its haters.
Competitors has to understand and accept that this is the perks Binance can get, they can put any exchange in the top if they wishes to, if they like for their exchange to be advertise, then they better purchase a CMC like. 
I doubt though that competition will take this likely. It's a cut-throat competition, and everyone will make a move to step the bar high just like what Binance did prior to the acquisition. And competitions doesn't like it obviously, so there's going to be a lot of tweets going back and forth, attacks that can make exchanges interesting again. They will have to show their strengths and let everyone knows the weaknesses of their competitors.
Binance keeps doing that to their competitors and they usually win. .. and with the CMC that is acquired already by them, it will only make their stronger and the competition will not be as tight in the future.
Look who's talking!
In 2018 an analysis of exchanges volume showed that Huobi was faking it with only 26% of real volume!
At the same time Binance was cleared with 100% real volume.
https://bitcoinist.com/binance-bitfinex-not-fake-volume/
Binance isn't the safest exchange out there but if you're criticizing others at least play fair yourself!
In 2018 an analysis of exchanges volume showed that Huobi was faking it with only 26% of real volume!
At the same time Binance was cleared with 100% real volume.
https://bitcoinist.com/binance-bitfinex-not-fake-volume/
Binance isn't the safest exchange out there but if you're criticizing others at least play fair yourself!
This is not new for CMC before they were bought by the most shady cryptocurrency entrepreneur's exchange they were playing with the ranking.
As for Binance they will be using this platform for their own benefit. I am sure most of us here will agree with it. This was bound to happen when they bought this platform. More of such petty tricks will be coming soon.
As for Binance they will be using this platform for their own benefit. I am sure most of us here will agree with it. This was bound to happen when they bought this platform. More of such petty tricks will be coming soon.
I support any action that hastens the demise of a site that has become way, way too powerful and probably unintentionally too. I doubt they had any idea what a monster it would become when they started it.
The more shit Binance pulls the more turned off people will become until it eventually fades away. Bring it on and speed it up.
The more shit Binance pulls the more turned off people will become until it eventually fades away. Bring it on and speed it up.
I don't think Binance will act in their own volition re: acquisition of CMC since that would be negative press. Even though we all know that CMC is kinda rigged in a way back then, it still has its own merits and can even improve on how they rank platforms. If Huobi wants to really up their game, perhaps try and suggest some thing to better the current way of ranking coins so everyone would be in a level playing field.
It's a big accusation from the side of Huobi. Sure there is a possibility that this is being done intentionally, but again it is outlined in CMC on how they do things before they display the ranking.
It's a big accusation from the side of Huobi. Sure there is a possibility that this is being done intentionally, but again it is outlined in CMC on how they do things before they display the ranking.
Binance had acquired Coinmarketcap with marketing/advertising in mind.There's no other reason for acquiring a service like CMC.Now they are going to use Coinmarketcap as a promotion channel of their BNB token.
We can say "goodbye" to "Binancemarketcap",because no cryptocurrency user or trader that has a brain won't trust their fake rankings.
Definitely, Binance would not do such a foolish move for not acquiring the Coinmarketcap because it is the most famous one, I saw a survey, online survey on crypto data providers labeling Coinmarketcap as the most referenced website for crypto data tracking, and binance as the biggest exchange at the moment will take over this huge thing at their side to get bigger. And yes, who will based on the exchanges rankings? If you are wary of where you are moving then this might not be the case. We can say "goodbye" to "Binancemarketcap",because no cryptocurrency user or trader that has a brain won't trust their fake rankings.
By the way,Binancemarketcap is a pretty accurate name for re-branding CMC.
Huobi might follow Binance's example and try to acquire some of the Coinmaretcap competitors.
I also think maybe the Coinmarketcap has a different categories on ranking the exchanges which Huobi is not that higher from binance or in other upper rank exchanges from coinmarketcap. But if it happens that this true and Binance is distorting the rankings, then this is a big slap on their face. Huobi might follow Binance's example and try to acquire some of the Coinmaretcap competitors.
They shouldn't complain too much if there is no agreed metrics for ranking exchanges/coins by crypto communities.
People don't speak out early until a problem begins to affect them.
I honestly don't worry to much about the centralized ranking sites because they are privately owned. Some say they can do whenever they want with their ranking sites... well, I think this is where the regulatory bodies could step in to address the problem considering that they are centralized and privately owned
People don't speak out early until a problem begins to affect them.
I honestly don't worry to much about the centralized ranking sites because they are privately owned. Some say they can do whenever they want with their ranking sites... well, I think this is where the regulatory bodies could step in to address the problem considering that they are centralized and privately owned
Even the graph illustrated by him says it's the volume of USDT only. Huobi maybe one of the largest to transact with USDT but it doesn't mean it's number one in total transactions as binance features many coin pair than Huobi and many stable coins than Huobi do. If you visit Huobi market, you'll see USDT pair market on the front while their are multiple stable coin on Binance. BUSD and USDC is the stable coin that Binance prefers to USDT.
I don't think it's manipulations, as Coingecko, to which I switched from CMC months ago, also says that Binance is #1 and Huobi is #2-3 (it keeps changing) by their Trust Score (it's explained here). I suppose the total coin marketcap is just not the key criterion when making these lists. CMC states on the page of the Top crypto exchanges the following:
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CoinMarketCap ranks the top cryptocurrency exchanges based on traffic, liquidity and trading volumes.
What is interesting, is that based on this approach, Huobi is not even close to #2 (it's currently #18), and choosing the approach that would bring Binance and Huobi more apart might do with the conflict of interests. 
This is what cmc's about says.
A matter of competition and Binance is known no matter what they say.
Quote from: https://coinmarketcap.com/about/
While the Binance cryptocurrency exchange and its native token BNB are listed on CoinMarketCap, CoinMarketCap and Binance are separate entities that maintain a strict policy of independence from one another: Binance has no bearing on CoinMarketCap rankings, while CoinMarketCap has no influence over Binance's operations.
No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes.
No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes.
A matter of competition and Binance is known no matter what they say.
What did you expect? That they will say - Hey, we are now owned by Binance and because of that Binance will always be the number one exchange on our site. Of course they will say that they are independent of each other. But that's not important... People that don't trust CMC anymore there is a lot of competitor websites that provide even more info than CMC.
They were on rank 18 and Binance obviously goes #1, they should have expected that.
Binance had acquired Coinmarketcap with marketing/advertising in mind.There's no other reason for acquiring a service like CMC.Now they are going to use Coinmarketcap as a promotion channel of their BNB token.
We can say "goodbye" to "Binancemarketcap",because no cryptocurrency user or trader that has a brain won't trust their fake rankings.By the way,Binancemarketcap is a pretty accurate name for re-branding CMC.
Huobi might follow Binance's example and try to acquire some of the Coinmaretcap competitors.
We can say "goodbye" to "Binancemarketcap",because no cryptocurrency user or trader that has a brain won't trust their fake rankings.By the way,Binancemarketcap is a pretty accurate name for re-branding CMC.
Huobi might follow Binance's example and try to acquire some of the Coinmaretcap competitors.
This is what cmc's about says.
A matter of competition and Binance is known no matter what they say.
Quote from: https://coinmarketcap.com/about/
While the Binance cryptocurrency exchange and its native token BNB are listed on CoinMarketCap, CoinMarketCap and Binance are separate entities that maintain a strict policy of independence from one another: Binance has no bearing on CoinMarketCap rankings, while CoinMarketCap has no influence over Binance's operations.
No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes.
No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes.
A matter of competition and Binance is known no matter what they say.
What did you expect? That they will say - Hey, we are now owned by Binance and because of that Binance will always be the number one exchange on our site. Of course they will say that they are independent of each other. But that's not important... People that don't trust CMC anymore there is a lot of competitor websites that provide even more info than CMC.
This is what cmc's about says.
A matter of competition and Binance is known no matter what they say.
Quote from: https://coinmarketcap.com/about/
While the Binance cryptocurrency exchange and its native token BNB are listed on CoinMarketCap, CoinMarketCap and Binance are separate entities that maintain a strict policy of independence from one another: Binance has no bearing on CoinMarketCap rankings, while CoinMarketCap has no influence over Binance's operations.
No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes.
No Binance employee, including CZ, has control over CoinMarketCap's ranking algorithms or listing processes.
A matter of competition and Binance is known no matter what they say.
The Vice-President of Huobi, Ciara Sun, recently critized Binance, for somewhat manipulating the ranking system and obviously put CZ's Binance on top of the ranking.
Expect more of this in future as Binance and CMC are starting to be one solid company and Houbi will surely miss the Position in exchangepopularization ,no wonder how many of this issue will come sooner.
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We all know that coinmarketcap was recently acquired by CZ so I'm not surprised by how they are going to present the ranking to give them some advantage.
Is this the start?
If the Battle against exchange is going to start then this is a good indicator how market is starting to bloom as well,so in the end this is a Is this the start?
Healthy competition and everything will benefits even users and the exchanges.
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for me?try to Use "BestChange" now for reference finding good exchange and with no manipulation issue. 
Whether it's a manipulation or not, we can't argue that Binance is the most popular exchange right now. When did you see a pump caused by Huobi listing? Or any other exchange that claims to be the most popular?
On the other hand, there are number of competitors to CoinMarketCap so if anyone dislikes those changes, they can use any other site. My personal favorites are CoinGecko and CoinPaprika (I can't decide which one is better ).
On the other hand, there are number of competitors to CoinMarketCap so if anyone dislikes those changes, they can use any other site. My personal favorites are CoinGecko and CoinPaprika (I can't decide which one is better
). 
Like what I said in another thread:
No matter what Binance or CMC says, it's obvious that the recent ranking change largely favors Binance.
CZ knew he and Binance will be criticized for implementing these changes but still went for it. At the end of the day, they spent millions on CMC not to make it "reputable" market data aggregator but to make Binance more popular and "more reputable". Huobi and other exchanges just have to suck it up.
With web traffic, the "Top Cryptocurrency Exchanges" clearly equates to the "Most Popular Cryptocurrency Exchanges".
If they will use average liquidity, the rankings would be a mess. There are more less 90 exchanges with more than zero liquidity but there are 341 in total. Bitmex has zero liquidity according to CMC data will be ranked 90+ but we all know it is quite popular among traders.
If you sort the rankings by average liquidity now, Bibox, Bitfinex, Huobi Global, Coinbase Pro currently outranks Binance.
If they will use average liquidity, the rankings would be a mess. There are more less 90 exchanges with more than zero liquidity but there are 341 in total. Bitmex has zero liquidity according to CMC data will be ranked 90+ but we all know it is quite popular among traders.
If you sort the rankings by average liquidity now, Bibox, Bitfinex, Huobi Global, Coinbase Pro currently outranks Binance.
No matter what Binance or CMC says, it's obvious that the recent ranking change largely favors Binance.
CZ knew he and Binance will be criticized for implementing these changes but still went for it. At the end of the day, they spent millions on CMC not to make it "reputable" market data aggregator but to make Binance more popular and "more reputable". Huobi and other exchanges just have to suck it up.
you can't find a transparency for CMC when it's acquired by an exchange, the owner can easily manipulate the data that they will put but it will be hard for people to question since Binance itself is not a shitty exchange, in fact people think that Binance is the number 1 exchange.
Correct, so we don't know if this is a good move from Binance to acquire CMC in the first place because they are going to be accused of data manipulation.
Competitors has to understand and accept that this is the perks Binance can get, they can put any exchange in the top if they wishes to, if they like for their exchange to be advertise, then they better purchase a CMC like.
I doubt though that competition will take this likely. It's a cut-throat competition, and everyone will make a move to step the bar high just like what Binance did prior to the acquisition. And competitions doesn't like it obviously, so there's going to be a lot of tweets going back and forth, attacks that can make exchanges interesting again. They will have to show their strengths and let everyone knows the weaknesses of their competitors.
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