Coinmarketcap.com and the Bias Against Hive

Today, Coinmarketcap.com is no doubt one of the most frequently visited websites in the cryptospace. This is because many rely on it to catch up with the market trends of their favourite tokens and to read the latest crypto-related news. Coinmarketcap.com has become so popular that it has become the bible of most crypto enthusiasts across the globe.

While one cannot honestly deny the usefulness of Coinmarketcap.com, it is pertinent to note that the once reliable website has suddenly become a temple of bias - especially when its ranking algorithm is critically considered. In its early days, Coinmarketcap.com ranks all its listed token according to their market capitalization.

However, some months ago it started ranking tokens not only according to market capitalization but trade volumes and other clandestine criteria. Unfortunately, this gives room for bias and sentiments in its ranking of tokens.

With this new method, it becomes possible for a token with a fine market capitalization to be relegated to the background just because the moderators at Coinmarketcap.com does not agree with the project. This is a very dangerous precedent that contradicts the very essence of cryptocurrencies, which is decentralization.

A very good example is the Hive token which very recently broke out of the Steem blockchain. A recent listing on the formidable Huobi has made Hive reached for the moon with a total market cap of approximately $118m which should ordinarily put it at the 48th place far above Steem which currently sit at 71st position with a total market capitalization of about $60m. Interestingly, Hive is sitting at the 212nd place in its ranking.

Coinmarketcap.com has continued to ignore the Twitter calls of prominent community members such as @theycallmedan and @therealwolf to remedy the situation. Whereas, the ranking is correctly done by @coingekco on its website. There is perhaps no better way to describe the actions of Coinmarketcap.com than to call it a sheer exhibition of bias and sentiments against Hive and other tokens.

In the case of Hive, one cannot be blamed for assuming that the actions of Coinmarketcap.com are calculated attempts to relegate and discredit Hive because of the present low ranking of Steem. It is this writer's belief that as long as Hive remains unstoppable, resolute, and formidable, it will surely get its place in the scheme of things, sooner or later.