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The CEO of one of the world’s most popular exchanges, Crypto․com, Kris Marszalek, is biased against cryptocurrency price data tracker CoinMarketCap, claiming the platform was “arbitrary” decrease” the rating of the exchange.
On December 25, Marszalek said on his personal page that Crypto.com’s trading volume is being misreported and that the platform’s rating has been changed to 14th place on CoinMarketCap.
Merry Christmas to team @CoinMarketCap who a week after my response to their poorly worded tweet arbitrarily reduced our exchange ranking to 14th 😁
We are 2nd/3rd on @coingecko so you guys know where to look for real and market neutral data 🤣
– Kris | Crypto.com (@Kris_HK) December 25, 2021
According to statistics on CoinMarketCap, Crypto.com’s exchange rating is 16th on December 25th. However, on Coiningecko indicates that Crypto.com’s ranking is second in terms of trading volume today with 3 $1.1 billion.
Meanwhile, CoinMarketCap figures show that Crypto.com’s volume is only about $1.5 billion.
After Marszalek’s post, a number of prominent figures in the market responded to his statement. The Baby Doge development team said they were having a hard time getting CoinMarketCap to verify the BABYDOGE supply.
We have a very similar issue with @CoinMarketCap refusing to verify our supply. We need a decentralized version.
Thankfully @coingecko has verified #babydoge and remains a neutral source ! Ranked at #218 todayhttps://t.co/eHYflQY9ls
— BabyDoge (@BabyDogeCoin) December 25, 2021
Coingecko co-founder Bobby Ong thanked Marszalek for his praise with Merry Christmas wishes to him. Several others have also expressed their understanding that the Binance exchange owns CoinMarketCap. Therefore, perhaps Binance is trying to “drain” its competitors.
CMC is owned by Binance -I’m not surprised.
— Ro (@CRo_World) December 25, 2021
“CoinMarketCap is owned by Binance. I’m not surprised. I never used CoinMarketCap since Binance acquired the platform.”
The news follows CoinMarketCap issues on December 14, when people complained about the website crashing, causing the coin’s price to “dance in the sky”. On that day, the price of Bitcoin on CoinMarketCap once reached as high as 778 billion USD per BTC. However, before the backlash from the community, CoinMarketCap had an extremely “fake” attitude.
Previously at the same time as the above incident, the CEO of Crypto.com also announced that he would soon remove CoinMarketCap’s API from the exchange’s products due to serious impact on users.
You don’t have to tell us anything — we are already working on removing @CoinMarketCap’s unreliable price feed from our product.
– Kris | Crypto.com (@Kris_HK) December 15, 2021
Synthetic Coin68
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