Is CoinMarketCap a scam? | Bitcointalksearch.org

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

If we look at market capitalization, HEX tokens are much higher than MVL, but CMC's position is better in MVL than HEX. Apart from that, the daily trading volume is also higher HEX compared to MVL. I don't understand what Coinmarketcap is working on. Maybe there's another way they set the CMC's best position?

Rank #200 MVL Marketcap $181,454,119 Volume $9,256,607
Rank #201 HEX Marketcap $75,852,139,614 Volume $59,253,502

Ever-young

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Coinmarketcap is not scam and can't be, it's one of the best and most use coin tracker, if their are errors noticed on coin ranking it might probably be because of the market situation, and an error from the trading exchange which does not give an accurate trading price.

Spack17

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I don't think that Coinmarketcap is related to being scam in any way. If it was, it would already be detected and the website wouldn't continue to work. I agree that sometimes there can technical problems with the cryptocurrency prices for example. But this doesn't prove that the website is doing this on purpose. In this situation, we can use another website like Coingecko etc. until the problem is solved. And they really solved the problem every time too.

perfect999

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Quote from: mdzahed134 on September 22, 2021, 07:55:21 AM

There are nothing proven with some date that he alleged Coinmarketcap is a SCAM. Binance own CMC in approximately 200 million USD. So that you shouldn’t think there are manipulating in coin data if they controlled this site. And you can checked a couple of alternative site where you will be comfortable.

Peoples spreading unauthentic rumours which are without any solid proof and nothing with this all Binance can't control coins they only have control in coinmarketcap, and they are posting all data about them which is not controlling or have any other thing related to this project.

For reaching in coinmarketcap they have some stick criteria without this they are not allowing coins/tokens to be listed may be sometime due to some technical error we have issues in data, but one thing is sure Binance is very user-friendly and developing this all very quickly for all users and projects.

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Quote from: BD Crypto on September 22, 2021, 09:39:08 AM

Quote from: glendall on September 22, 2021, 09:22:50 AM

Coinmarketcap is a real and genuine platform for crypto market analysis, where coins that have entered the CMC have good value in the future,
CMC has its own criteria in assessing a coin where what is seen is the volume of sales within a certain time which is determined by CMC itself Maybe
so Coinmarketcap is definitely not a scam for me

But CoinMarketCap was acquired by Binance for $400M on Apr 1, 2020. That's why there can be something fishy from Binance.
Again its true that Binance can make their own decisions in CoinmarketCap website easily.So we should research by own to know about the project details beside CoinmarketCap.

Does it mean that Binance now is controlling the market today? I don't think so and in fact, I'd never know how it does but what I saw is that the market remains decentralized and it moves freely in accordance with the demand and market supply.

With that Binance listing have their own criteria, that's their rules and I think there is no need to question than unless it was really questionable but as it talks only about listing, I believe there is such a requirement. Does the rank really matter? I'd never look that hard but I'd rather look at the potentiality and use-case of the project as that was the ticket for its success, not their ranks.

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Quote from: glendall on September 22, 2021, 09:22:50 AM

Coinmarketcap is a real and genuine platform for crypto market analysis, where coins that have entered the CMC have good value in the future,
CMC has its own criteria in assessing a coin where what is seen is the volume of sales within a certain time which is determined by CMC itself Maybe
so Coinmarketcap is definitely not a scam for me

But CoinMarketCap was acquired by Binance for $400M on Apr 1, 2020. That's why there can be something fishy from Binance.
Again its true that Binance can make their own decisions in CoinmarketCap website easily.So we should research by own to know about the project details beside CoinmarketCap.

glendall

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Coinmarketcap is a real and genuine platform for crypto market analysis, where coins that have entered the CMC have good value in the future,
CMC has its own criteria in assessing a coin where what is seen is the volume of sales within a certain time which is determined by CMC itself Maybe
so Coinmarketcap is definitely not a scam for me

Anonylz

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Quote from: hosseinimr93 on September 15, 2021, 09:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

I thought to be among top 100 or 200 has to do with the overall market capitalization and not some requirement process, I didn't realise this is done differently, this is not a good criteria to be in top 100 imo, it doesn't look credible to me however, cmc are in charge and at liberty to make the rules.

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Quote from: kojektea on September 20, 2021, 05:09:09 AM

What do you mean binance wants to manipulate coinmarketcap? But, it may be true, because some time ago I heard that binance bought coinmarketcap at a high price, and now coinmarketcap is in binance's control. They could have arranged the top coins depending on who they wanted to.

There are nothing proven with some date that he alleged Coinmarketcap is a SCAM. Binance own CMC in approximately 200 million USD. So that you shouldn’t think there are manipulating in coin data if they controlled this site. And you can checked a couple of alternative site where you will be comfortable.

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

No, they are not, the right word should be misleading they have their criteria on ranking coins they index you can find it all here

https://coinmarketcap.com/alexandria/glossary/rank

Quote

Although most individuals track cryptocurrency ranks according to market cap, CoinMarketCap gives the option to adjust ranking based on price, 24-hour and seven-day price change, volume, and circulating supply.

If you're not comfortable using Coinmarketcap, there's a lot of better alternatives and each one of them has a way of ranking coins they index.

kojektea

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What do you mean binance wants to manipulate coinmarketcap? But, it may be true, because some time ago I heard that binance bought coinmarketcap at a high price, and now coinmarketcap is in binance's control. They could have arranged the top coins depending on who they wanted to.

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Quote from: cafucafucafu on September 19, 2021, 11:09:00 PM

...Are they selective in ranking their coins (that is not just by market cap)? Yes...

It would be correct if Binance published the ranking rules in the rating, so that these points of the rules were clear to Coinmarketcap visitors. Then you wouldn't have to guess why a coin like Safemoon is on the third page of the rating, and not on the first. But one thing is for sure that when calculating the rating, in addition to capitalization, the daily trading volume and the exchanges on which this coin is represented are used.

avarnet

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Is CoinMarketCap a scam?
In my opinion it's not a scam but it's a requirement like that, because every marketcap coin has rules to open page by page, and it's also very likely that this is a problem where certain projects can't meet the requirements that's why it's not displayed on some pages and if interested really an investor so that's the way to check

cafucafucafu

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I wouldn't go so far to call them a scam.

Are they selective in ranking their coins (that is not just by market cap)? Yes.

But if you wanted a ranking service that ranked things based on just market caps, then perhaps you should look into alternatives like cryptowat.ch, coingecko, or cryptocompare. What CMC does is just a feature of theirs.

evichi

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I don't think Binance would have the intent to scam people. I believe they work hard to maintain good reputation and trust. Reputation and trust are important ingredients in any business environment. In terms of ranking, they have their own yard stick and preferences to rank coins and tokens. They have reasons why they have taken decisions as regarding coin listing in the order they published. Over the years the platform is waxing strong - which I think is good for crypto space.

You can other similar platforms like: https://www.worldcoinindex.com/; https://www.coingecko.com/en

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Quote from: bhooscream on September 19, 2021, 06:59:01 PM

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Is CoinMarketCap a scam?

I am confused with you. That case cannot be proof that CMC is a scam. Although there are many scam projects there, doesn't mean that CMC is a scam. We all know that CMC never stated that all the projects listed in CMC aren't scams. So, potentially there are scam projects among the lists, we must be more careful if we want to choose one of them to invest our money, and CMC has no responsibility for this. Anyway, regarding this case, have you contacted CMC team? Go to their supports or ask on their social media channel.

Agree, The CMC and Coingecko listings are simple to complete; all you have to do is fill out the forms. However, showing that token on the main pages is also a free advertisement on that coin; of course, you must meet the conditions, as we are unsure if these coins will remain legitimate. So, why should CMC be blamed if the coin has yet to pass any requirements? Why would you promote a coin on the front pages if it is still unsuitable for promotion, despite its large market cap and large number of holders? For me, it doesn't make sense.

bhooscream

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Quote

Is CoinMarketCap a scam?

I am confused with you. That case cannot be proof that CMC is a scam. Although there are many scam projects there, doesn't mean that CMC is a scam. We all know that CMC never stated that all the projects listed in CMC aren't scams. So, potentially there are scam projects among the lists, we must be more careful if we want to choose one of them to invest our money, and CMC has no responsibility for this. Anyway, regarding this case, have you contacted CMC team? Go to their supports or ask on their social media channel.

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Quote from: MaiQwaN on September 19, 2021, 05:10:48 PM

If Binance bought this rating instrument, then it is quite clear that it will be used in its interests. I trust independent sources more and try to double-check any information regarding crypto.

I don't think it's a wise call to say that Coinmarketcap data sources aren't as good as other alternatives just because Binance owns them. Well, I tend to use multiple price tracking site and it does get the job done. Coinmarketcap really needs to put a notice out about why they those tokens with that proposed marketcap aren't listed in accordingly.

lousie9

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

If indeed the coin deserves to be ranked on coinmarketcap and at that time it got high hype so that it got a very large trading volume of course the coin will go up even though it's only a new coin maybe that's what I know from the order contained in coinmarketcap seen from the trading volume of coins circulating at the moment this.

MaiQwaN

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If Binance bought this rating instrument, then it is quite clear that it will be used in its interests. I trust independent sources more and try to double-check any information regarding crypto.

DanWalker

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Coinmarketcap is the most accurate and reputable cryptocurrency tracking site available today. And I can assure you one thing that Coinmarketcap is not a scam their criteria are quite high and listed in top 200 coins are tokens that have to meet some requirements.HEX on #201 from many days for sure. There must have been some confusion about the analysis as well as the token requirements are still not enough.

crzy

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Quote from: mdzahed134 on September 19, 2021, 02:56:59 PM

Coinmarketcap designed by some rules and regulations, Possibly HEX or SafeMoon didn’t meet their requirements so that it’s ranked in CMC after top 100. Even i have seen HEXcoin not listed any reliable centralized exchanges. How it can be deserve in top hundreds list. But i don’t judge a project by provided information of only CMC, Besides most of the time i checked another tracking sites like as Coingecko is another most visited coin tracking site.

They must qualify on those regulations so they can still be on a good position on coinmarketcap and we know tjay this is just a coin tracker that exchanges/wallets mostly based on for token to have value and I don’t see this as a scam, maybe people are just unaware of the regulations and requirements. If those coins/tokens keeps on following the regulations, there will be no problem like this in the future.

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Can you give an example of your argument? Coinmarketcap is used by many investors as a guide in viewing market circulation, and other important notes about crypto. If Coinmarketcap tries to commit fraud in terms of market capitalization, then most investors today will make the mistake of choosing which coins to invest in.

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Quote from: RILWAN on September 18, 2021, 04:43:57 PM

Well coinmarketcap may not be 100% accurate in their listing and for a coin to make the top 200 list some criteria need to be met and most coins find it hard to meet up with that condition, which is why investors always look further than just relying on coinmarketcap for top-performing coins/token.

There are more investors too that are looking on coinmarketcap for the coins that they decide to invest. But these days, it's not only coinmarketcap that's being visited but as well as various the same type of websites because of the better comparison of data that they project to their visitors. IMO, CMC has improved when Binance took over it but I find it annoying with those added features that they have for which more of too much for me.

mdzahed134

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Coinmarketcap designed by some rules and regulations, Possibly HEX or SafeMoon didn’t meet their requirements so that it’s ranked in CMC after top 100. Even i have seen HEXcoin not listed any reliable centralized exchanges. How it can be deserve in top hundreds list. But i don’t judge a project by provided information of only CMC, Besides most of the time i checked another tracking sites like as Coingecko is another most visited coin tracking site.

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Quote from: wxa7115 on September 18, 2021, 04:39:18 PM

I do not remember exactly when the website was bought by binance but I remember thinking that it was a conflict of interest and that eventually binance may try to tweak the results to favor themselves, and it seems this is what is happening.

Now some people may argue that they are filtering scams and it is true, but the purpose of a tool like that is just to measure the market cap of each coin, once they begin to add other criteria that have nothing to do with it then it becomes something closer to a review site, and as we know most of those websites are not to be trusted and it seems something similar is happening here, so the website is not a scam but at least I would not trust their results either.

I think you will agree with me that it is impossible to put a coin that is traded on Binance and a coin that is traded on Yobit on the same level. So, very simply and with little financial expenses, you can pump coins on the Yobit exchange and this price will serve as the basis for calculating the total capitalization of the coin. In this case, if Binance used only capitalization as the basis for calculating the rating, then we would be able to see a shitty coin in the first places of the rating.

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Coinmarketcap places the order of coins based on marketcap. The way to calculate marketcap on Coinmarketcap is, coin price * circulating supply amount.
If you've counted but found something wrong, then Coinmarketcap has manipulated the market. But I have calculated it, found no error. Only slight differences, due to changes and differences in token prices in exchanges.

RILWAN

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Well coinmarketcap may not be 100% accurate in their listing and for a coin to make the top 200 list some criteria need to be met and most coins find it hard to meet up with that condition, which is why investors always look further than just relying on coinmarketcap for top-performing coins/token.

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Quote from: tvplus006 on September 15, 2021, 05:20:48 PM

Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

I always believed that the only criterion for getting a coin on the first two pages of the rating is its capitalization, but as it turned out, I was wrong. After I carefully looked at the coins that are located in front, I noticed that they are all traded on Binance, Binance DEX or another TOP exchange. Obviously, this, along with capitalization, serves as the main criterion for evaluating coins. And until Hex and Safemoon are listed on the Binance, they will never rise higher in the Coinmarketcap rating.

I do not remember exactly when the website was bought by binance but I remember thinking that it was a conflict of interest and that eventually binance may try to tweak the results to favor themselves, and it seems this is what is happening.

Now some people may argue that they are filtering scams and it is true, but the purpose of a tool like that is just to measure the market cap of each coin, once they begin to add other criteria that have nothing to do with it then it becomes something closer to a review site, and as we know most of those websites are not to be trusted and it seems something similar is happening here, so the website is not a scam but at least I would not trust their results either.

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Quote from: 19Nov16 on September 18, 2021, 12:01:45 AM

Quote from: FinneysTrueVision on September 17, 2021, 09:43:52 PM

Safemoon is mostly traded on decentralized exchanges and it has very low volume. It's market cap is not an accurate reflection of it's value. I can see why they would exclude it from the top 200. Market cap can be a misleading statistic so I've never really paid attention to any coin's ranking.

Although we get a lot of benefits from coinmarketcap but we must be careful and vigilant because the fact that I often get is when I want to sell coins or tokens based on references on the coinmarket it is often different. Because coinmarketcap is very popular of course get offers from coins or tokens that want to look promising.

By looking at the CMC alone, you can't tell if such coin is really promising, you have to dig more, make some research using different sources so you will see the real potential of the project. CMM just lists the coins and their references, it doesn't tell you to invest in a certain coin, except for those they advertise.

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Quote from: FinneysTrueVision on September 17, 2021, 09:43:52 PM

Safemoon is mostly traded on decentralized exchanges and it has very low volume. It's market cap is not an accurate reflection of it's value. I can see why they would exclude it from the top 200. Market cap can be a misleading statistic so I've never really paid attention to any coin's ranking.

Although we get a lot of benefits from coinmarketcap but we must be careful and vigilant because the fact that I often get is when I want to sell coins or tokens based on references on the coinmarket it is often different. Because coinmarketcap is very popular of course get offers from coins or tokens that want to look promising.

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Safemoon is mostly traded on decentralized exchanges and it has very low volume. It's market cap is not an accurate reflection of it's value. I can see why they would exclude it from the top 200. Market cap can be a misleading statistic so I've never really paid attention to any coin's ranking.

bananaunana

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Coinmarketcap does not take any money, why should it be a scam?
It is very easy calling every site a scamsite but you also need to deliever a proof where it can scam people.

Coinmarketcap is just a listing site, it can't scam people.

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Just understand that it can't please all the things that we want. If I say I'm still very satisfied and have no problem with such ratings, I know about HEX but so what?

Maybe OP wanted it to appear in the top3 CMC, but CMC didn't, and I don't care because it really doesn't matter. And if you still want that to happen, create your own and please yourself.

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If you are going to ask me about coinmarketcap, I think this is a legit website and this has been the most trusted website cryptocurrency investors and traders can also rely on for information about their crypto investments. This is not a scam I am surprised that people are calling it a scam. The projects listed on the website are enormous and also has thorough information that you can rely on it for many of your information needs.

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https://coinmarketcap.com/alexandria/glossary/rank

I think, everything is in the article above. how does the ranking system work and how the team from cmc does it.
as i see, we can see the ranking of other coins based on price and volume for 24 hours, if there is some data that you think is not suitable, there might be a bug there and the project team needs to update information about updates such as tokens burned and amount current token circulation, so that the CMC team can update the coin

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That is the reason I was not actually invigorated when it became public that coinmarketcap was purchased by binance, since it is rarely great on the off chance that one organization needs to much impact in any business. The majority of the monetary standards are recorded here and the 10 monetary forms recorded by coinmarketcap are useful for contributing different data about tokens can be learned through this market cap.

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Quote from: naikturun on September 17, 2021, 11:00:33 AM

I don't know and don't understand but since using coinecko I never use coinmarketcap again, because it is more accurate to use coinecko, and page 3 as you said there is no problem at all, some new coins may be listed earlier in cmc but it doesn't prove that the coin is worth/good.
so its better use coingecko than cmc.

I think Coinmarketcap has no problem and is still a trusted site to this day because we can see that many people are using Coinmarketcap to find information about coins,
and if talking about Coingecko and Coinmarketcap I think they are two good sites so it comes back to everyone's decision which site to use

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I don't know and don't understand but since using coinecko I never use coinmarketcap again, because it is more accurate to use coinecko, and page 3 as you said there is no problem at all, some new coins may be listed earlier in cmc but it doesn't prove that the coin is worth/good.
so its better use coingecko than cmc.

RiskySanchez

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I don't think so, coinmarketcap top ranking has met the criteria with the supply circulation and market cap that has been achieved. because every coin/token that has entered Coinmarketcap has a good fundamental and ecosystem. Moreover, Binance has a user-friendly platform and development that has a positive impact on the crypto world, it is impossible to scam because there is no negative impact on traders or investors.

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Coinmarketcap.com is one of the trusted and unbiased platforms right now for checking the price of cryptocurrencies and their market caps. I wouldn’t have believed what you said now if not that I decided to reach their website and know whether it’s true or not, and from what I’ve seen it is true. The coin you have mentioned is ranked at 201, while it is worth over$68 billion in market cap. Then when you go to the page 2 there are other cryptocurrencies that are worth millions of dollars but are still ranked in the top 200.

Maybe this will be an error with their system or maybe this particular coin doesn’t meet up with some of their criteria to be ranked in that position. Even at that we should all know that this is one of the trusted platforms that we have all been using for years now, and you can’t say that they are scam, because they don’t really do anything that has to do with your money.

DrBeer

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Like any statistical tool, CoinmarketCap is an interesting and useful tool, on the one hand, and on the other hand, such a tool can be used to manipulate data. Everything is on the conscience of the owner or manager of this project ...

PS But about coin # 211 - coins / tokens really have a set of criteria, quantitative and qualitative, the presence of which affects the position of the coin in the rating. And only "synthetic" capitalization cannot be the only accurate indicator of the rating.

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

I am pretty sure there must be some logical explanation to that. They do not have any benefit from safemoon being higher, that is the most important part of it. I mean yeah they could definitely end up being capable of changing the places and all if they want to, it is their website and if they want something like that then they can do it, BUT why?

I mean what is the point of keeping safemoon outside of top 200? Is safemoon something that has enough power to disturb binance? Absolutely not, if that was the case uniswap would be the first one they would block out. It is obvious that either you are wrong about safemoons size, or they have a technical issue but I am sure that none of it can come down to being a scam.

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

To reach the coinmarketcap ranking, they must meet several criteria, in order to be in the top 200 or 250, these conditions make coins difficult to reach, even many coins are difficult to reach at this stage, a lot of preparations they have to do to be at this stage or at this stage. second and first pages, Market capitalization will only affect a few coins in moving to reach the top positions and almost all of them are related to each other, if this ability cannot be matched.

sujonali1819

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I don't think the coinmarketcap is a scam.. Everything has it’s own criteria. So maybe they have some rules of ranking cryptocurrencies. And every listed site have to pass the rules and meet the requirements imo. Maybe here is also happened the same with those tokens.

fuguebtc

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I also often use CMC to look up market information. But since CZ bought CMC, I feel that it's not completely transparent anymore. There have been several interventions to benefit binance. I recently switched to CoinGecko not comparable to CMC but I think it will be fairer. Research and gather information from a variety of sources. That's the best way for us to have the most accurate view.

ilovealtcoins

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Don't look at the capitalization to judge a crypto. Coinmarketcap's criteria in my opinion are reasonable. Large-cap cryptos with both transaction volume and use-cases should only be outside the top 100.
TOP 100 are the best and trusted cryptocurrencies. Look at HEX, its capitalization is really big and it has grown millions of times. It's just a ponzi product. If it was ranked in the top 100, it would be misleading for investors to pour money into such a project.

yhiaali3

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I wouldn't be surprised at all if they did, I've seen a lot of things on CoinMarketCap that make me think Binance manipulates some data sometimes, I can't say CoinMarket is scam but Binance is definitely trying to make it very profitable by making money from listing coins or Rating or advertising and other things, we can't blame Binance for that because they bought the site in big numbers and if it doesn't make a profit what's the point of it?
Although I believe that there is some manipulation, there is no denying the fact that CoinMarketCap is one of the best sites that give information about cryptocurrencies and ranks number 1 and gets millions of visits daily.
So advice don't rely on one site for information, do more research and get information from more than one source.

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Quote from: khaled0111 on September 16, 2021, 11:44:17 AM

Each price tracking website use its own algorithms to rank cryptocurrencies and market capitalization is just one of many factors they consider. CoinMarketCap is definitely not a Scam but their ranking algorithm works differently than most other price tracking websites.
When you need information about a cryptocurrency, you should look it up on different services. Don't limit yourself to just one of them.
For example, SafeMoon is ranked #211 on CMC, while it's ranked #105 on CoinGecko.

For traders and investors, it's always safe not to focus on one website.
We can't tell that they are bias but it's the system that they are using to track information.

You always sort it up and compared all the data that you collect, then check and balance which one is the best thing to use as a basis for your investment.
It's not good locking yourself up as internet has a wide range of information that you can use. Keep rinsing and at the end of the day you'll be able to decide if which valid information that will help you to have successful investment.

khaled0111

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Each price tracking website use its own algorithms to rank cryptocurrencies and market capitalization is just one of many factors they consider. CoinMarketCap is definitely not a Scam but their ranking algorithm works differently than most other price tracking websites.
When you need information about a cryptocurrency, you should look it up on different services. Don't limit yourself to just one of them.
For example, SafeMoon is ranked #211 on CMC, while it's ranked #105 on CoinGecko.

faithupgrade

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They rank the coin according to some criteria and one of the biggest factor is their marketcap. If a crypto has a huge volume it will surely rankup in the coinmarketcap. Sorry but I cannot see the reason why you call coinmarketcap a scam?

Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

jack wira

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As far as I know coinmarkecap has never deceived others, in other languages they have never harmed anyone.
Even CMC is a very trusted place for price analysis, so I don't think coinmarketcap will ever be a scam, bro.

ethereumhunter

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Quote from: raidarksword on September 16, 2021, 08:03:45 AM

Coinmarketcap is just a website that monitors trading volume and ranks top coins in the market and definitely not a scam at all. There are lots of criteria to be in the position of the marketcap ranks, the trading volume and the trend as well. I have been using CMC for couple of years now and I do like their being accurate on such tokens and coins in the market.

I agree with you. Coinmarketcap is a website serving the data for the market and it is our job to search for the other website to check the truth. I have also used CMC for many years since I join the crypto and I do not think that CMC is a scam and even if CMC is a scam, I can use the other website to search for the other info. Maybe some people do not like CMC because they do not see a better feature like in the other website, but I do not have a problem with CMC.

BivxiuDavi

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Completely not. I always believe in them. This project has been long proven. It is not only a simple project but a tool to take stock of market. However, to evaluate the whole market, I think we need to consult with various sources to get the most reasonable results within human's knowledge. Good luck with your predictions!

masterrex

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I think it's not appropriate to call any platform a scam just because we don't understand how it works, although the CMC site has some bugs that sometimes affecting their ranking and other statistical information. But I don't think it's a scam, Anyway, aside from CMC, there are a lot of platforms out there that offered the same functions and services that's why we are free to choose the much better that's simple.

freedomgo

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The question seems unreal, how can CMC be a scam if Binance bought them for $400 million according to this article.
https://www.theblockcrypto.com/post/60371/binance-is-set-to-acquire-coinmarketcap-the-deal-could-be-worth-as-much-as-400-million

CMC does provide information according to their standard, they might be biased since the owner of the site also owned the Binance exchange, but they are not scam.

sarmrakib

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Quote from: raidarksword on September 16, 2021, 08:03:45 AM

Coinmarketcap is just a website that monitors trading volume and ranks top coins in the market and definitely not a scam at all. There are lots of criteria to be in the position of the marketcap ranks, the trading volume and the trend as well. I have been using CMC for couple of years now and I do like their being accurate on such tokens and coins in the market.

There is nothing actually to become scam here .There are many website like coinmarketcap to show up the price of the coin which are concern crypto like coingecko ,Coinpaprika .So it can just make us a puzzle3 with the price and the wrong information without that they have nothing actually to become scam anything .There is nothing happen yet with this site .How the question come from that if it become scam .I always use this sit and it is so smooth and speedy to show me the recent market situation even with many information .

gurunanakji777

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I am a regular user of Coinmarketcap as far as my understanding it is very genuine. I think its nothing to do with Binance on the other hand there are some criteria projects need to fulfill that would be the reason in my opinion. Even you can use Coingecko if you don't like to use coinmarketcap.

raidarksword

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Coinmarketcap is just a website that monitors trading volume and ranks top coins in the market and definitely not a scam at all. There are lots of criteria to be in the position of the marketcap ranks, the trading volume and the trend as well. I have been using CMC for couple of years now and I do like their being accurate on such tokens and coins in the market.

Saisher

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

They have their own criteria for doing that, it's not a project that you'll invest it's a market aggregator if you do not agree on what they are showing you have other market aggregation that you can use, I'm using Coingecko and I'm comfortable using this, they have more features and they offer reward by just login daily.

Or you can check this article for the list of Cryptocurrency market aggregator

5 Best Crypto Market Data Aggregators and APIs (Updated 2021)

tvplus006

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Quote from: Little Mouse on September 16, 2021, 04:10:00 AM

Maybe that's a bug but for Hex, it can be something else too. I have seen Hex price to be quite higher than usual price in some exchanges. For example, in xt.com. But the liquidity at that price was not enough. It is possible that CMC use liquidity as a metric to rank the coins which is why it has affected although I haven’t checked it yet.

As for the Hex coin, it really has a small volume of daily trading, besides it is represented on shitty exchanges such as Yobit. Due to the small volume of trade, it is easy to pump such a coin, which, accordingly, will entail an increase in its capitalization. To get to the first pages of the rating, you need a listing of the coin in the TOP exchanges and a large volume of daily trading.

Reid

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You always have a choice of not using it.
They can rank anything on their own criteria but that doesn't mean that is the truth.
You could make your own and rank Ethereum as the top coin before Bitcoin because you are a big fan of it or vice versa.

CMC is just an information center of cryptocurrencies. Let it stay that way to avoid expecting more.

RussianEnglishTranslation

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Coinmarketcap is a scam and the numbers are fudged. When the price of something like XRP goes up they remove Korean exchanges or change the marketcap/supply in circulation to lower the price. These are facts. CMC is shady and I do not trust it. Additionally, most of the trading volume it tracks is from centralized exchanges with wash trading bots, not decentralized exchanges like Coingecko... not that coingecko is perfect by any means, just saying.

michellee

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I consider that CMC is just showing the data like the other website such as CoinGecko. You need to find more data from the other website, especially if you want to use it for trading. I do not know if CMC is a scam, but I do not have a problem with that and I can find the data from the CMC. But I do not use CMC only and I use Coingecko with the other websites that members suggested to give me more data. The rest is that you need to analyze the data to find if that is real or fake.

Little Mouse

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Maybe that's a bug but for Hex, it can be something else too. I have seen Hex price to be quite higher than usual price in some exchanges. For example, in xt.com. But the liquidity at that price was not enough. It is possible that CMC use liquidity as a metric to rank the coins which is why it has affected although I haven’t checked it yet.

globalpain

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Quote from: ?? on ??

The number of scams in the crypto market is very high but coinmarketcap is not a scam but it is a very good site for exchange. Most of the currencies are listed here and the 10 currencies listed by coinmarketcap are good for investing various information about tokens can be learned through this market cap digital currencies are listed following coinmarketcap.

I think the Coinmarketcap site is really safe and definitely not a scam site,
after all it is a trusted site and many people have used it so we don't need to hesitate,
right in Coinmarketcap we can find a lot of information about various coins and it's good to add to our reference

Ararbermas

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Its not a scam mate because CMC is the most reliable site nowadays and very genuine. and each of every project need to meet the requirements so that the can avail spot in coinmarketcap, if not then they are not eligible, and for your information there some projects as well that suddenly disappear within that site, and of course there's a good reason for that, i mean it's either turn into scam or CMC receiving a bunch of negative feedback about the project that's why they decided to remove it for the safety of the community..

andriarto

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Quote from: hosseinimr93 on September 15, 2021, 09:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

so basically coinmarketcap is still normal no disturbance. and what happens is possible because of the lack of requirements on certain coins to be ranked according to their order. for coinmarketcap, I've used it since the beginning of knowing crypto, and from here I can find information about the development of coins, especially on prices and exchanges

CryptoWarriorsssss

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

of course ， not

DapanasFruit

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I am actually surprised that anybody can be accusing CMC as a scam...maybe there can be some technical problems from time to time or they have their own guidelines being followed that can determine how a certain digital asset can be listed or what place it will occupy on the list...but certainly this can not be qualified as a scam. In the first, CMC is not asking money from us though it can be getting its revenues from advertising too...

yohananaomi

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Quote from: hosseinimr93 on September 15, 2021, 09:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

I think what our colleague @hosseinimr93 said can be accepted and digested correctly and I think it makes sense, because each particular application is ensured to carry out the requirements that are adjusted to the existing predictions and are correct. but if there is a mistake or something that feels awkward, you can make a correction directly to their admin to get clearer information.
so that there is no perception that would be wrong and have another impact, I think they are willing and will be able to carry out the dialogue well.

ene1980

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Why do you think CZ and Binance purchase CMC. It will be their tool to propagate their idea about the market and they can manipulate certain aspects of the market with the rankings so that anyone who used to check CMC would continue to do so but forgets the fact that the owners changed hands and you cannot expect a fair view of the market especially if there is something that could boost up their business.

btc_angela

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Quote from: Kusman on September 15, 2021, 06:35:53 PM

I don't think that Binance exchange would own a scam platform. They would already know that it would tarnish their reputation. Binance is the number one cryptocurrency exchange in the end. And I didn't think even once that Coinmarketcap would be a scam. Sometimes, they had some technical problems like showing faulty prices. But they corrected their mistake quickly all the time. If you are still not comfortable with the website, then I would recommend Coingecko too. It seems more reliable.

Yes, they have their reputation to protect, and since CZ has taken over it, there has been a lot of chances, maybe inside policies and/or criteria and obviously what the OP is complaining didn't make their strict criteria.

Big exchanges has some faulty issues in the past as well, like Coinbase. So similarly, Binance will make mistakes as well. But they are very quick to fix the issues so Coinmarketcap is good in my opinion.

Baofeng

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

They have their own criteria, maybe you can cross it to other sources such as https://www.coingecko.com/en so see if there is a difference or not. If there is then it's really up to you who to believed.

You don't need to pay Binance though, again it boils down as what are their yardstick. Not defending them because they have been accused in the past already, however, if this is the case then this could have been noticed too and could have been an issue already.

seramania

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Quote from: hosseinimr93 on September 15, 2021, 09:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

This is the most correct in my opinion based on the facts on the ground. the requirements of a coin to be in the best position on coinmarketcap are very different from a token that occupies a position in the order of many. For example, trading volume, exchange, marketcap, and selling and buying charts on a daily, weekly and monthly or yearly basis can affect positions on coinmarketcap.

Kusman

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I don't think that Binance exchange would own a scam platform. They would already know that it would tarnish their reputation. Binance is the number one cryptocurrency exchange in the end. And I didn't think even once that Coinmarketcap would be a scam. Sometimes, they had some technical problems like showing faulty prices. But they corrected their mistake quickly all the time. If you are still not comfortable with the website, then I would recommend Coingecko too. It seems more reliable.

Mahanton

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Quote from: hosseinimr93 on September 15, 2021, 09:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

Probably or most likely this had been the reason on where a certain project hadnt able to meet up the requirements thats why it isnt displayed on 1-2 pages and if you are really that kind of investor whom do check out on

the coins that you are possesing into and find out that it isnt on the right ranking then you would really be basically having these kind of reactions which isnt really surprising.
I dont see to be a scam but rather misleading on some case but high likely the link given above is the culprit or reason.

sunsilk

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It's about its standard and there must be some statisticals requirement from CMC itself why it's like that.

As you compare, take a look at the other websites just as the same as CMC to compare if there's a lot of difference or it's also the same as CMC that you're looking at.

It's not a scam, just as the others that only shows status and data of different cryptocurrencies.

Johnyz

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How it can be a scam if its just a monitoring site? Also you can have other option if you think CMC is not fair on their rankings which is just based on their requirements.

To get listed in CMC you have to provide such requirements and also if you think you are qualified to be on top positions, you still need to submit your requirements. I don’t know hows the process but for me CMC is not a scam.

CaVO32

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Quote from: hosseinimr93 on September 15, 2021, 09:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

First, I won't call CMC as a scam because they are not duping any user here. They have their own criteria so it is according to their standards how they will rank the coins. And if you are not happy about it, just like zasad said, you have several ranking websites to look out for also. Or just apply filters if you want to see specific categories and their rankings. Anyway, the ranking itself doesn't equate how good the coin is in the actual market. There are coins at the top which don't have active use case, whereas, there are some gems which are below them that have active use case.

tvplus006

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

I always believed that the only criterion for getting a coin on the first two pages of the rating is its capitalization, but as it turned out, I was wrong. After I carefully looked at the coins that are located in front, I noticed that they are all traded on Binance, Binance DEX or another TOP exchange. Obviously, this, along with capitalization, serves as the main criterion for evaluating coins. And until Hex and Safemoon are listed on the Binance, they will never rise higher in the Coinmarketcap rating.

zasad@

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If Coinmarketcap added coins to the rating only by assessing their market capitalization, then after 50th place you could see a lot of scam projects.
It is correct that each service should have its own criteria.
But if you don't like Coinmarketcap, then there are many analogues:
https://www.coinwatch.com
https://coinlib.io
https://coincodex.com
https://www.cryptocompare.com
https://www.coingecko.com/en
https://bitscreener.com
https://onchainfx.com

This was my first forum post.
https://bitcointalksearch.org/topic/m.52036652

Jackl87

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Coinmarketcap is definitely not a scam but of course they decide themselves what criteria they use to rank the projects and I'm also pretty sure that they rank projects that have to do with Binance, are tradable on Binance or in which Binance itself has invested higher or put more in the spotlight than other projects. That is why i was not really excited when it became public that coinmarketcap was bought by binance, because it is never a good thing if one company has to much influence in any business field and i think that Binance is already very dominant in the crypto space and they are trying to become even more dominant.

NIKUBHI

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Coinmarketcap is a one hundred percent real and genuine platform for the crypto market analysis as I never heard of any scam from this platform from my crypto journey till now. I also see HEX on the #201 number from many days. I think that, this could be the platform analysis error or somewhat like.

hosseinimr93

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According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

DrBitcoin

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I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Topic: Is CoinMarketCap a scam? (Read 574 times)