PSA: CoinMarketCap is owned by Binance, so you should find an alternative

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PSA: CoinMarketCap is owned by Binance, so you should find an alternative

CoinMarketCap was bought by Binance last year, and it's no longer a trustworthy source of crypto information.

As an example of their bias, Binance's "exchange score" on CoinMarketCap's exchange rankings is significantly higher than any other exchange's, at 9.8. The next highest score is Coinbase's at 8.8, which is a large gap.

This makes me think they're adjusting the score weightings (which we don't know the details of) to push Binance higher in their rankings, if not outright making stuff up. And we don't know what other data they're fudging to favour Binance, either.

Sure, CoinMarketCap is probably relatively accurate for most general information, but you can never really trust what you're seeing.

Personally, I would rather support CoinGecko, which even pledged to remain independent, in spite of a bunch of offers by exchanges, after CoinMarketCap's acquisition was announced.

And CoinMarketCap isn't the only crypto data aggregator with a conflict of interest – another example is, which is owned by ShapeShift. It's unlikely to matter right now since ShapeShift isn't even being tracked by, but what about if it grows large enough to be tracked by them in the future?

Anyway, always double check the source of your information! You don't want to miss important stuff just because Binance or another organization doesn't want you to see it.

submitted by /u/cchaser92
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