Coinmarketcap.com Is Fooling Us!
I bet everyone who is interested in altcoins and cryptocurrencies does his judgements by looking in to most popular cryptomarket website www.coinmarketcap.com. As we can see, the market is quite bearish at the moment, and the total Market Cap of all cryptos is roughly 510 billion dollars.
As you can see in the picture below, total market capitalization has decreased for about 200 billion dollars in 2 week (15 /01 $701 bln, 31/01 $509 bln).
But it is NOT accurate, because there are DOZENS of new coins who are either at the stage of ICO or already had finished it but are NOT displayed on Coinmarketcap.
For example, on this website you can see all ended ICO’s and how much they have raised money. It is not taken in calculation of total market cap by Coinmarketcap, therefore their statistics are NOT CORRECT. And there is plenty of ICO’s which are not listed on icodrops.com (for example, all Lending platforms).
I think that it is a matter of time when Web 3.0 technology will be implemented in calculating total cryptocurrency market capitalizations, so that it would be decentralized and less biased, when Coinmarketcap excluded all Korean exchanges from their calculations and because of that Ripple price has dropped significantly.
This service MUST evolve and it Will be decentralized.
Very well explained. Plus market cap is just the last traded price multiplied by all the coins/tokens in circulation. I get it. We need something to talk about but really its a silly number.
Thank you for your post.
Glad you liked it. I am surprised how people believe in 1 website which has already proved to be biased.
Idea for ICO create a decentralized cryptocurrency market platform which is not controlled by any company. I would definitely invest in such a project
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