Is something Wrong with Coinmarketcap?
Hello Steemians, it's been two days i am noticing something weird with Coinmarketcap.com. The prices of most alts in USD and percentage of drops or gains does not match the BTC prices of the same Altcoins.
Below is a snapshot i took today of USD first:
As you can see most Alts are averaging better gains than Bitcoin except for Litecoin, some of them have 10% gains like Bitshares and Monero. And yet when i click on the Value in BTC of the same coins i am getting a totally different story.
Here is a snapshot taken at the same time for the same coins but in BTC Value:
In this snapshot, the top 6 coins are all in Red compared to Bitcoin and the others that had a 10% or more gains are up by as little as 1% now.
Hope someone can give some answers and clarify it for me as i am scratching my head over here.
Some might suggest that due to the Chinese or Koreans value exchange rate but take IOTA for example it only available on Bitfinex and yet its the same story!
Thanks in advance.
If Bitcoin value in dollars goes UP, altcoins have part of Bitcoin that is called satoshi. So, if Bitcoin for example goes up to 3000 dollars and let's imagine that all coins stay at the same number of satoshis, their value in dollar will also go up. If their lose some value in satoshis, they will still go up in value, but situation will be different if you compare them with bitcoin because they now have less satoshis.
Well i have been long enough in cryptoland to understand that, but something is not right. if Bitcoin Value for example is going up by 2.80% as per the above photo and Ripple stays the same rate in terms of satochis then it will go up by 2.80% as well. but if ripple looses 1% in satochis then we can see ripple gaining 1.80% in terms of USD, and not 8% as in this case.
Maybe it has to do with the Volume in Big exchanges like Polo? but i am still not convinced as i stated above some of the coins are only available in one exchange like IOTA!
That's correct. Maybe they are not updating all parts of website in the same time... Or they use some different calculations for that.
I have no idea as well.
Is it showing the comparison of BTC to the certain alt coin so it is red due to the fact it is doing better to BYC
I'm not entirely sure
Usually if bitcoin is gaining 2.80% and Ripple for example is gaining 8% the BTC value of ripple should be in the green and not vise versa!
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