Coinmarketcap.com Biased Against Listing the CORRECT ‘XRP’ Market Capitalization?

Coinmarketcap.com Biased Against Listing the CORRECT ‘XRP’ Market Capitalization?

Coinmarketcap refuses to list XRP’s true market capitalization and some speculate that ulterior motives may be the source of the omission of XRP information

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Some rumors have always circulated regarding Coinmarketcap.com and whether or not the operate with absolute integrity. Some have alleged that Coinmarketcap requested fees in order to list a coin, which they publicly addressed on their twitter account on August 8, 2018, stating:

 

 

Since rumors have dissipated for the first time, but now as time progresses, another concern has developed amongst the cryptocurrency community, questioning whether or not Coinmarketcap and it’s team has a biased view on the cryptocurrency market, and/or is trying to hinder XRP’s growth.

On November 26, 2018 a twitter user by the name of @XRPcryptowolf twitter Coinmarketcap regarding their discrepancy stating:

 

In researching one cannot confirm that they intended to ‘planned’ to remove the market capitalization information, however in researching on Coinmarketcap’s website one can confirm that On January 8, 2018 Coinmarketcap did adjust the market capitalization of XRP, which cause a seemingly obvious drop in the price of XRP.

 

Overnight, The XRP market capitalization dropped by over 35,000,000,000, and the coin lost a drastic amount of it’s value and momentum.

 

 

 

 

The twitter conversation continues, with Coinmarketcap responding stating:

 

While a normal, inexperienced reader would read this and think, “that seems reasonable.” The more experienced reader would at least have the following concerns and questions regarding Coinmarketcap’s response:

  1. Shouldn’t accuracy be a #1 priority when reporting financial data?
  2. Why distort the facts based on Coinmarketcap’s personal opinion, rather than providing the public with accurate information?
  3. Who from the submits updates for Bitcoin? Someone from their official team? — Given nobody truly knows who Satoshi Nakamoto is, that seems impossible.

 

Recently conglomerate ‘Yahoo’ updated it’s listing of XRP’s marketcap to it’s true amount on their website showing a difference of $23,000,000,000 between Coinmarketcap’s listing and the real world cryptocurrency market capitalization.

 

With Coinmarketcap.com being a resource used by thousands, seeing as many as 300,000 daily views, it seems imperative that they report accurate data and information. People make very important financial decisions based on the information listed on extremely popular websites such as Coinmarketcap.com, and they too need to be held accountable for spreading accurate and unbiased information. 

 

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