Binance, Censoring Coins On CoinMarketCap

Binance, Censoring Coins On CoinMarketCap

By Market Militia | Market Militia | 1 May 2020


People were concerned that the acquisition of coinmarketcap.com by Binance would lead to unfairness in the market. It appears this concern has been realized as Binance has begun censoring many coins and tokens. Let's take a look at the coins being censored by Binance on coinmarketcap.com:

 

Coins & Tokens With Reduced Visibility

Proponents of Binance and coinmarketcap.com might aim to reason that the coins and tokens are not completely gone, nevertheless, the intent and effect remains the same. These coins and tokens are receiving reduced visibility, put far below the rank they should be when using the standard criteria for determining rank. 

What is the reason for this reduction in visibility? Binance and coinmarketcap.com do not explain. When you look into the reason you find only this page and this is all they say: 

 

Rank Censorship on CoinMarketCap.com

 

You can check out their detailed ranking guide here:

https://support.coinmarketcap.com/hc/en-us/articles/360034116491-Market-Data-Cryptoasset-Rank

 

They do not explain any reason for these coins and tokens receiving unfavorable rankings. These crypto-assets have higher market caps than many of the crypto-assets ranked above them, and volume is often higher as well. Don't get me wrong, there are many coins and tokens with questionable features and I understand that. However, do you really want a company that runs a top exchange deciding what we see and don't see? These crypto-assets are being intentionally tucked away behind two pages of listed assets in hopes that we won't see them. 

Favored Crypto-assets:

 

Favored Crypto-Assets

 

Many were afraid that the most well-known website for cryptocurrency market data would no longer remain unbiased and begin showing preferential treat. It seems this has occurred, however, you can protect yourself from losing out on crucial information that can empower you to make the best decisions in this market by using Coinpaprika.com instead of Binance's coinmarketcap site. 

 

 

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Market Militia
Market Militia

The Market Militia blog discusses decentralized and open finance being built on blockchains such as Ethereum as well as the benefits to human liberty that can be achieved through concepts such as "digital constitutions" through distributed systems.

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