CMC aka CoinMarketCap.com is not including the highest volume exchange bithumb in the calculation of the price of STEEM.
I think that is scandalous.
In some cases it makes sense not to include one single exchange in the calculation of the price (average) but not in the case of STEEM. It is the highest volume exchange by far!!! WTF? If included, the price of STEEM would be a little over 2$ now. But because it is excluded, it is only 1.67$.
In the case of SBD, not including a single exchange (HitBTC, low volume exchange) makes sense though.
SBD is valued @ 1.33$ but on HitBTC it is traded @ 19.23$. That is because the deposits and withdrawals are not working on HitBTC atm, so you can only trade with money that is already on the exchange. The supply of SBD is rediculously low atm on HitBTC, which makes it easy to pump up the price. So it is fine to exclude the outlier in this case.
Interesting - I didn't know about it. And good to see that somewhere Steem is traded with a premium.
Why do you think it is important to include that exchange? Is it new that they are not including this exchange?
I mean for whom is the absolute value of the average of CMC important?
It is a serious question - I was thinking - to me it doesn't matter as it is more important what is the price of the exchanges I am trading on and in total what are relative price movement shown on CMC (as this probably attracts investors if there are big moves up). But I don't see how the average being 1.6 USD oder 2.1 USD matter.
But obviously you are thinking differently and I would love to hear your reasoning.
90% of people who want to invest in crypto check it out on CMC. It has the highest traffic of all coin comparison pages worldwide. If the average buying price is higher or even rising when BTC is not, that is a good thing. It matters because it is a sign of investor sentiment when BTC is in a bad spot.
And it also is like not using Binance in the calculation of BTC... just stupid. People are determining the price where the volume is. To not include the highest volume exchange is rediculous.
When you only look at CMC front page, you only get the average price. You might not even notice that something is strange or manipulated.
Today they are including Bithumb again. It is a sick game. Or maybe their algo detected that the difference in price is not so big anymore. Nobody knows, it is very non-transparent.
I totally agree - it is good if steem is rising while btc is not regardless of the actual USD amount it is at.
You are saying it is included again - interesting. But the average didn't change that much. We were expecting s.th. around 2 USD if they include it - right? Any idea why is that?
-> just read your second post - bithump again not included explains it...
Is the average done weighted by the volume? Or plain average on the number of exchanges included? Do you know that?
I thought one policy of CMC is that exchanges with no trading fee (which seem to be bithump) aren't included in general. But they seem to differentiate that (looking at the ***). Thoughts on this?
It is excluded again. I found out this can change any minute, because they are not doing it manually. It is just some algo which determines if the price differences are too big (exclude) or still appropriate (include).
Not sure if it is weighted by volume or not. I hope it is.
I have no idea about their general policy on no trading fee exchanges, but I am confused as well because of their .. and ... explanation. If they don't support no trading fee exchanges, why are they sometimes including them?
I still hope it doesn't matter too much as it shouldn't affect the %-tage change of last 24hr in any way. I believe this is what investors are looking at mainly. But sure it would be better to be with more distance to the ultimate support of 1 USD.
I was talking with @missionsuccess earlier and he was telling me the issues that their organization, Manna was having with coinmarketcap. He basically said they are playing all kinds of games.
It seems like they are abusing their power as main resource for crypto pricing.
I think it would. Most people really don't like selling their coins or tokens at below spot price, so if it joined the average, people would likely start trading closer to the average.
Interesting - I didn't know about it. And good to see that somewhere Steem is traded with a premium.
Why do you think it is important to include that exchange? Is it new that they are not including this exchange?
I mean for whom is the absolute value of the average of CMC important?
It is a serious question - I was thinking - to me it doesn't matter as it is more important what is the price of the exchanges I am trading on and in total what are relative price movement shown on CMC (as this probably attracts investors if there are big moves up). But I don't see how the average being 1.6 USD oder 2.1 USD matter.
But obviously you are thinking differently and I would love to hear your reasoning.
90% of people who want to invest in crypto check it out on CMC. It has the highest traffic of all coin comparison pages worldwide. If the average buying price is higher or even rising when BTC is not, that is a good thing. It matters because it is a sign of investor sentiment when BTC is in a bad spot.
And it also is like not using Binance in the calculation of BTC... just stupid. People are determining the price where the volume is. To not include the highest volume exchange is rediculous.
When you only look at CMC front page, you only get the average price. You might not even notice that something is strange or manipulated.
Today they are including Bithumb again. It is a sick game. Or maybe their algo detected that the difference in price is not so big anymore. Nobody knows, it is very non-transparent.
I totally agree - it is good if steem is rising while btc is not regardless of the actual USD amount it is at.
You are saying it is included again - interesting. But the average didn't change that much. We were expecting s.th. around 2 USD if they include it - right? Any idea why is that?
-> just read your second post - bithump again not included explains it...
Is the average done weighted by the volume? Or plain average on the number of exchanges included? Do you know that?
I thought one policy of CMC is that exchanges with no trading fee (which seem to be bithump) aren't included in general. But they seem to differentiate that (looking at the ***). Thoughts on this?
It is excluded again. I found out this can change any minute, because they are not doing it manually. It is just some algo which determines if the price differences are too big (exclude) or still appropriate (include).
Not sure if it is weighted by volume or not. I hope it is.
I have no idea about their general policy on no trading fee exchanges, but I am confused as well because of their .. and ... explanation. If they don't support no trading fee exchanges, why are they sometimes including them?
You are right - everything very intransparent.
I still hope it doesn't matter too much as it shouldn't affect the %-tage change of last 24hr in any way. I believe this is what investors are looking at mainly. But sure it would be better to be with more distance to the ultimate support of 1 USD.
.
thanks
Ops, didn't know that it was a secret. I figured it was so obvious that it had to be some mechanism to prevent it :P But I have edited it now ;)
Great information. Steem is more up very soon.
I think the big game is going around and someone is playing with steem and sbd.
Lot of big changes coming to see in blockchain. Hope these changes will arise steem and sbd.
Sbd will rise again.I think it,s just bad time for steem.good time will come.we just have to wait and watch.
weird...
also https://coinlib.io/coin/STEEM/Steem
does not include those price exchanges...
Manipulation? bad faith?
I was talking with @missionsuccess earlier and he was telling me the issues that their organization, Manna was having with coinmarketcap. He basically said they are playing all kinds of games.
It seems like they are abusing their power as main resource for crypto pricing.
Don't like to hear that.
People having SBD there on HitBTC will be happy. :)
Yeah, they got real lucky!
Well, the Korean exchanges always are higher in prices. The question is, whether an inclusion would trigger a higher price at the other exchanges too?
I think it would. Most people really don't like selling their coins or tokens at below spot price, so if it joined the average, people would likely start trading closer to the average.