Huobi's VP accuses BNB and CMC for 'distorting' crypto rankings - page 2.

Darker45

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Quote from: stadus on May 20, 2020, 11:41:02 PM

Quote from: ajaymukund on May 20, 2020, 10:58:08 PM

To become the top 1 exchanges, they need to have many different elements, not just deposit volume. but the game is like that, whoever owns it has the right to rule and others to follow. CZ didn't naturally spend $ 400 million to buy CMC, he already had a plan in place for these marketing.

CMC has new features, which I guess they evaluate on their own, but before it was really different as exchanges are only ranked based on its 24 hours trading volume, but due to some exchanges faking its volume, CMC are making their own evaluation by adding some factors to determine the overall ranking of a site.

The 24-hour trading volume reflected on CMC prior to Binance acquiring it was segregated between "Reported" and "Adjusted." This was a way for CMC to somehow counter the questionable volume figures reported by the exchanges themselves. Binance not only disregarded this, it also removed it altogether and shifted into another metric of ranking exchanges by which Binance will rise to the first rank.

Quote from: Baofeng on May 20, 2020, 06:04:10 PM

Is this the start?

This is the start of a Sun and a Zhao squabble. Wink

stadus

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Hhampuz for Campaign management

Quote from: ajaymukund on May 20, 2020, 10:58:08 PM

To become the top 1 exchanges, they need to have many different elements, not just deposit volume. but the game is like that, whoever owns it has the right to rule and others to follow. CZ didn't naturally spend $ 400 million to buy CMC, he already had a plan in place for these marketing.

CMC has new features, which I guess they evaluate on their own, but before it was really different as exchanges are only ranked based on its 24 hours trading volume, but due to some exchanges faking its volume, CMC are making their own evaluation by adding some factors to determine the overall ranking of a site.

https://coinmarketcap.com/rankings/exchanges/

as you can see, they already have the following :

Web traffic factor
Average liquidity.

ajaymukund

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https://streamies.io/

To become the top 1 exchanges, they need to have many different elements, not just deposit volume. but the game is like that, whoever owns it has the right to rule and others to follow. CZ didn't naturally spend $ 400 million to buy CMC, he already had a plan in place for these marketing.

Distinctin

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No dream is too big and no dreamer is too small

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.

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. Grin

stadus

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Whether we like it or not, people or the competitors will always say negative about Binance because it was very clear that Binance own CMC now and they could be bias, of course as an owner, you should serve your personal interest.

This would not change, we will see more of this in the future and it will be useless for Binance to acquire CMC without benefiting it.

though they said this.

https://cointelegraph.com/news/binance-announces-coinmarketcap-acquisition-cz-gives-the-scoop

Quote

CMC will operate independently
While the companies are going to work closely together, CMC will still continue to operate as an independent business entity, both Binance and CMC emphasized. Zhao stressed that the acquisition will not change CMC's independence from external stakeholders:

btc_angela

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This is just probably what is in store in the future for CMC. And it looks like this will back fire for Binance in the long run. Because others will see this as a way to manipulate the rankings and put them on top and will likely tailor made their criteria for themselves. CMC will not be seen as a singular entity and will highly influence by CZ. For Huobi, they can still rank better in other platforms and there are a lot of alternatives. It's good though that she expose this as early as today.

Rengga Jati

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Since Binance acquired CMC, of course, there will likely be some changes. Previously there were indeed many who doubted the independence of CMC if it was acquired by Binance. some things are feared is the manipulation of data exchange and ranking, because Binance itself is a large exchange.

However, the Binance and Coin Market Cap Parties have confirmed that Binance will not be directly involved in internal matters related to ranking. Zhao ensured that the acquisition from Binance won't change the independence of CMC from the external stakeholders:

Quote from: Baofeng on May 20, 2020, 06:04:10 PM

-snip

And about the accuse from The Vice-President of Huobi, we exactly cannot understand it is true or not. There should be some proof of the acquisition. And in my opinion, instead of posting there, why isn't it better to contact the CMC and confirm it? That might be better.
Actually, this might also be a question mark related to the independence of CMC. Is it really independent or is there an intervention? Maybe in the future, there will be other accusations that consider the involvement of Binance as a rival exchange. So, it would be better if the CMC also provides data related to the allegations so that the public understands which is exactly correct.

Source:
https://cointelegraph.com/news/binance-announces-coinmarketcap-acquisition-cz-gives-the-scoop

GreatArkansas

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+1 to CaVO32.
Binance acquiring Coinmarketcap is an extremely big advantage of the Binance, especially Coinmarketcap is the most popular price-tracking website for cryptocurrencies.
This could also be a threat to some exchanges, but also for Binance. With this kind of issue (faking the data), some people will also start to hate Binance.

There is a lot of alternatives for Coinmarketcap there, like, Coinpaprika and Coingecko.

CaVO32

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I think CMC is not "distorting" the rankings but they have their own criteria regarding their rankings. If Huobi wants to be the number one in terms of the criteria they are presenting, then create their own ranking website or suggest it to CMC to have that kind of rankings as well. I guess CMC will be open to suggestions and will not operate in totalitarian style. CMC is in hotspot right now because it is now owned by BNB, so we will expect more criticisms from other exchanges in the next coming months.

Baofeng

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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.

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?

https://twitter.com/CiaraHuobi/status/1261269765395345409

Topic: Huobi's VP accuses BNB and CMC for 'distorting' crypto rankings - page 2. (Read 235 times)