03-17-2021, 10:26 PM
Proof that Binance manipulates CoinMarketCap data to keep themselves at the top
<!-- SC_OFF --><div class="md"><p>There was another post claiming that since Binance owns CoinMarketCap, they manipulate their "Exchange Score" to keep themselves at the top of the list, so I decided to look into it. In comes <a href="https://archive.org">archive.org</a>! You can view all of the snapshots available of the CMC exchange page here: <a href="https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/">https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/</a></p> <p>​</p> <p>Binance bought CMC in April of 2020. Through April, CMC ranked their exchanges based on volume. You can see from <a href="https://web.archive.org/web/20200411021938/https://coinmarketcap.com/rankings/exchanges/">this snapshot taken in April 2020</a> that Binance ranked #16 based on volume. You can look at previous months and Binance fluctuates around various spots in the top 20.</p> <p>​</p> <p>In May, about 1 month after Binance bought CMC, CMC began to rank exchanges by something they called "Web Traffic Factor". <a href="https://web.archive.org/web/20200520015928/https://coinmarketcap.com/rankings/exchanges/">From when they implemented this ranking in May</a> until they changed it in December, Binance stayed at the top of the list with a perfect score of 1000. Other exchanges scores fluctuated often, but Binance always had a perfect 1000 for 7 straight months.</p> <p>​</p> <p>In December, CMC removed "Web Traffic Factor" in favor of something they call "Exchange Score". <a href="https://web.archive.org/web/20201224014406/https://coinmarketcap.com/rankings/exchanges/">Binance once again was ranked at the top with a 9.8</a>. Since then, Binance has stayed at the top with a 9.8 every month, while most other major exchanges have slowly had their "Exchange Score" lowered, or have at least had their score fluctuate month to month. No exchange has had a score that comes close to Binance's 9.8.</p> <p>​</p> <p>It also appears that Binance is manipulating their volume on CoinMarketCap. Comparing CMC with CoinGecko, on October 3, 2020, <a href="https://web.archive.org/web/20201003150227/https://coinmarketcap.com/rankings/exchanges/">CoinMarketCap</a> reported a volume of $3.7 billion for Binance, while <a href="https://web.archive.org/web/20201003014608/https://www.coingecko.com/en/exchanges#">CoinGecko</a> reported a volume of $2.7 billion. On November 12, 2020 <a href="https://web.archive.org/web/20201112040822/https://coinmarketcap.com/rankings/exchanges/">CoinMarketCap</a> reported a volume of $11.8 billion for Binance, while <a href="https://web.archive.org/web/20201112021659/https://www.coingecko.com/en/exchanges">CoinGecko</a> reported only $4.1 billion.</p> <p>​</p> <p>You can view all the snapshots for CMC available here and verify this yourselves: <a href="https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/">https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/</a>.</p> <p>​</p> <p>TLDR: Based on this data, I think it's clear that since Binance bought CMC, they have manipulated their data to keep themselves at the top of the list of exchanges. Makes you wonder what else they are manipulating, or will manipulate in the future, with their monopoly on the crypto market.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WhiskeysGone"> /u/WhiskeysGone </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m73ste/proof_that_binance_manipulates_coinmarketcap_data/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m73ste/proof_that_binance_manipulates_coinmarketcap_data/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>There was another post claiming that since Binance owns CoinMarketCap, they manipulate their "Exchange Score" to keep themselves at the top of the list, so I decided to look into it. In comes <a href="https://archive.org">archive.org</a>! You can view all of the snapshots available of the CMC exchange page here: <a href="https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/">https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/</a></p> <p>​</p> <p>Binance bought CMC in April of 2020. Through April, CMC ranked their exchanges based on volume. You can see from <a href="https://web.archive.org/web/20200411021938/https://coinmarketcap.com/rankings/exchanges/">this snapshot taken in April 2020</a> that Binance ranked #16 based on volume. You can look at previous months and Binance fluctuates around various spots in the top 20.</p> <p>​</p> <p>In May, about 1 month after Binance bought CMC, CMC began to rank exchanges by something they called "Web Traffic Factor". <a href="https://web.archive.org/web/20200520015928/https://coinmarketcap.com/rankings/exchanges/">From when they implemented this ranking in May</a> until they changed it in December, Binance stayed at the top of the list with a perfect score of 1000. Other exchanges scores fluctuated often, but Binance always had a perfect 1000 for 7 straight months.</p> <p>​</p> <p>In December, CMC removed "Web Traffic Factor" in favor of something they call "Exchange Score". <a href="https://web.archive.org/web/20201224014406/https://coinmarketcap.com/rankings/exchanges/">Binance once again was ranked at the top with a 9.8</a>. Since then, Binance has stayed at the top with a 9.8 every month, while most other major exchanges have slowly had their "Exchange Score" lowered, or have at least had their score fluctuate month to month. No exchange has had a score that comes close to Binance's 9.8.</p> <p>​</p> <p>It also appears that Binance is manipulating their volume on CoinMarketCap. Comparing CMC with CoinGecko, on October 3, 2020, <a href="https://web.archive.org/web/20201003150227/https://coinmarketcap.com/rankings/exchanges/">CoinMarketCap</a> reported a volume of $3.7 billion for Binance, while <a href="https://web.archive.org/web/20201003014608/https://www.coingecko.com/en/exchanges#">CoinGecko</a> reported a volume of $2.7 billion. On November 12, 2020 <a href="https://web.archive.org/web/20201112040822/https://coinmarketcap.com/rankings/exchanges/">CoinMarketCap</a> reported a volume of $11.8 billion for Binance, while <a href="https://web.archive.org/web/20201112021659/https://www.coingecko.com/en/exchanges">CoinGecko</a> reported only $4.1 billion.</p> <p>​</p> <p>You can view all the snapshots for CMC available here and verify this yourselves: <a href="https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/">https://web.archive.org/web/20200715000000*/https://coinmarketcap.com/rankings/exchanges/</a>.</p> <p>​</p> <p>TLDR: Based on this data, I think it's clear that since Binance bought CMC, they have manipulated their data to keep themselves at the top of the list of exchanges. Makes you wonder what else they are manipulating, or will manipulate in the future, with their monopoly on the crypto market.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WhiskeysGone"> /u/WhiskeysGone </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m73ste/proof_that_binance_manipulates_coinmarketcap_data/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/m73ste/proof_that_binance_manipulates_coinmarketcap_data/">[comments]</a></span>Kind Regards R