Market Coin Cap
Market Coin Cap is a unique platform that provides live price information, market value and more detailed information about a cryptocurrency. Market Coin Cap offers a lot of information such as market values, volumes, circulating supplies, BTC dominance, markets. The information dominated by the majority of the crypto money world is collected, organized and presented in this platform. The abbreviation for Market Coin Cap is CMC
What Is Market Coin Cap ?
The Market Coin Cap platform is based in the USA and its founder is Brandon Chez. It is a crypto currency market analysis and tracking platform that provides a lot of data about more than 7,700 cryptocurrencies. It was founded in May 2013 and has grown rapidly day by day and has become the most trusted source by users, institutions and media to compare thousands of crypto assets. Major news sources such as CNBC, Bloomberg and the like, including the US government, frequently use MCC’s data.
Binance which is the global blockchain company behind the world’s largest digital asset exchange, with large trade volume and the most preferred by users, systematized cryptocurrencies by making them globally accessible. In April 2020, Market Coin Cap was included in Binance. Through this acquisition, MCC aims to gain more in-depth data to projects, reduce information asymmetry in the cryptocurrency industry, and bring higher quality data to hundreds of millions of users.
Market Coin Cap is Safe ?
Wash trading is a concept used to refer to fictitious transactions. It is possible for any investor to easily create a misleading or unreal activity in the market with Wash Trading. The rate of manipulation in the market increases with this method, and most of the data on platforms such as MCC can be generated through wash trading. That’s why most analysts think that users who follow these platforms are likely to be mistaken.
Market Coin Cap states that they have an awareness of washing trading where someone is trading with the aim of artificially inflating volumes. According to research, the vast majority of the volumes of three quarters of crypto money exchanges are fake. According to Market Coin Cap‘s plan, they can prevent this manipulation by listing the stock market transactions in metric called liquidity instead of volumetric values.
The Connection Between Binance and Market Coin Cap
When Market Coin Cap was incorporated into Binance, there were thoughts that it could not be unbiased about shared data. While the Binance cryptocurrency exchange and its native token BNB are listed on Market Coin Cap, Market Coin Cap and Binance operate as separate entities, pursuing a policy of independence from each other. When such opinions increased, CMC published a statement on behalf of this situation in the “About Us” section on its official website. In its statement, it stated that Binance has no influence on the MCC ranking, and MCC has no effect on Binance’s operations.
Binance CEO CZ also made a statement on the issue, stating that neither he nor any of his employees within Binance had any influence on the CMC algorithm and rankings. Cryptocurrencies that adopt CMC’s listing policies will be able to be listed on the MCC platform, and listing for each cryptocurrency will be fair and independent. The official ranking criteria of Market Coin Cap have been established regardless of any cryptocurrency or any cryptocurrency chain including Binance.
This policy is of great importance to CMC, and knowing that it will face many problems as long as it does not adhere to it, CMC does not put itself in a pool of problems by taking such a risk. In this context, MCC aims to present the most accurate and best market data to an independent and broad public.