Do you check Coinmarketcap.com? We accept octopus as a pet
I'm collecting data for my weekly post: Total MarketCap & Corrections Analisy
Obviously this week I could not forget that:
The very popular cryptocurrency price tracker, CoinMarketCap, eliminated several South Korean stock exchanges from its listings on January 8, which caused a fall in the general market that particularly affected the alternative currency Ripple (XRP).
CoinMarketCap, uses data fromglobal exchanges to produce average prices for cryptos, tweeted on Monday its decision to eliminate stock markets, due to "extreme divergence in prices from the rest of the world and the limited opportunity for arbitrage."
My goal today, was not to see the effect of the decision of coinmarketcap on prices, but to know that markets / exchanges are excluded and therefore do not appear in the (volume 24h) data that I register to try to do my analysis.
The data I found are not significant about the TMC:
2 billions won't change anything for me, specially since i know this data exist.
However, during this week I have been reading various pieces of information and I was struck by our colleague @dragosroua in this post:
Which has lead me to ask myself: Who is behind coinmarketcap??
There is no legal or corporate information on its website, nor the classic "TEAM", nothing, just a contact for ads
Neither in his faq: https://coinmarketcap.com/faq/
btw: Any1 know who are/is behind?
I googled: .......... and nothing clear / easy
who's behind coinmarketcap?
who owns coinmarketcap?
Is not it a bit strange? lack transparency? manipulate the algorithms / data at your discretion? The answer is YES and if you do not like it do not look at it, I still think the community should ask for a little more transparency so that it does not end up like the announcement of scattergories: We accept octopus as a pet.
@beiker <3
After they removed some of the Asian data, I also looked into where they are located because it seemed an odd decision to me. I couldn't find anything either although I didn't look very hard. But you raise a very good question. Who Benefits from this? I don't think its us. For EOS for example. Over half of the trading on some days is in Korea and Japan so they just excluded half of the price data.
the domain is WhoisGuard Protected, so... no clue
yeah about EOS excluded Bithumb EOS/KRW PRICE at least not excluded the volume 24h which is the 60%, i'm not saying some1 is having profits could be, but the lack of transparency generates many doubts
Octopus is not a pet? xD