Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

CoinMarketCap Features Binance. A Smell Of Centralization?

CryptocurrencyMar 26, 2021 06:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
CoinMarketCap Features Binance. A Smell Of Centralization?

  • CoinMarketCap added a buy crypto option, sponsored by Binance and linking to the exchange.
  • The feature is attached to Bitcoin, Ethereum, and Binance Coin.
  • Binance acquired the CMC platform last year, raising the questions of the possible conflict of interests.

One of the leading cryptocurrency data providers, CoinMarketCap (CMC), added a new feature on its crypto rankings list today.

Users who check up on the cryptocurrency price movements on CMC can find a new “Buy” option next to three of the top 5 cryptocurrencies. The platform added the buy feature for the two largest digital currencies, Bitcoin and Ethereum. Binance Coin (BNB) is the third on the list.

The feature is sponsored by Binance exchange. It offers to buy digital assets with zero fees on Binance’s platform and links directly to its account registration page.

The deal with Binance

Binance purchased the crypto data provider CoinMarketCap in March 2020. The acquisition valued at around $400 million was named a “deal of the century” for being one of the biggest investments in the crypto space.

Official statements claimed that CoinMarketCap would continue to run as an independent entity. However, the acquisition of a popular crypto data provider and ranking platform immediately raised questions of the possible conflict of interests.

CMC changed the ranking methodology

Suspicions significantly intensified a month after a deal with Binance was made, when CoinMarketCap (CMC) made critical changes to the cryptocurrency exchange rankings algorithm.

The platform introduced a new metric called Web Traffic Factor and set it as default over the previously used liquidity score metric.

Since the ranking method update, Binance instantly jumped on top of the cryptocurrency exchange list. Meanwhile, following the liquidity score rankings, Binance ranked 4th after Bibox, Huobi, and Bitfinex crypto exchanges.

On the flipside

  • Suspicions of trading volume manipulations shadowed CoinMarketCap back in 2019, as three-quarters of the top 25 exchanges listed on the platform were suspected of reporting fake trading volumes.
  • Although CMC claims that it operates as an independent entity, the clear Binance sponsorship raises questions of the platform’s neutrality.

CoinMarketCap is one of the most popular cryptocurrency data providers with nearly 130 million visits within the past five months, according to SimilarWeb. The website is also ranked 16 among the world’s most visited sites in the investing category.

Continue reading on DailyCoin

CoinMarketCap Features Binance. A Smell Of Centralization?

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email