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- The CEO of CryptoCom slammed CoinMarketCap for misreporting their exchange trading volume.
- A glitch that affected the whole market, as coin prices were increased.
On Christmas eve, Kris Marszalek, The CEO of CryptoCom tweeted slamming CoinMarketCap for misreporting their trading volume precisely.
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“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.”
According to coinmarketcap.com, Crypto.com’s exchange was ranked 14th with $1.8 billion in trading quantity over the last 24 hours.
However, according to Coingecko, trading quantity stats indicate that Crypto.com’s ranking is second in terms of trade volume rankings today. Making Crypto.com 3rd on the list with a $2.8 billion trade volume. Meanwhile, coinmarketcap.com (CMC) metrics show Crypto.com’s volume is down by more than 5% with a $1.8 billion trading quantity.
A glitch that made people millionaire
From the 14th of dec, CMC was getting compliant on wrong problems. CMC’s team addressed the problem by informing them about the glitch they are facing.
CMC stated,” Following the irregularities, we observed on our platform this afternoon,” they added,” despite the issue having been fixed, we will be rebooting our servers as a final step in accordance with our internal remediation plan. Apologies for the inconvenience.”
Later CMC tweeted: “How did it feel to be a trillionaire for a couple hours?”
People who got connected with Marzalek’s tweet were not surprised as CMC is owned by Binance. After a few exchanges, he ended with “already working on removing CoinMarketCap’s unreliable price feed from our product.”
The sudden increase in price affected the whole crypto market.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
