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The head of Crypto.com criticized CoinMarketCap for “failing to reflect real stock trading data,” which misleads market participants.
Kris Marszalek, CEO of cryptocurrency exchange Crypto.com, criticized the analytical service CoinMarketCap for providing cryptocurrency market participants with incorrect data on the exchange’s trading volume.
Merry Christmas to team @CoinMarketCap who a week after my response to their poorly worded tweet arbitrarily reduced our exchange ranking to 14th
We are 2nd/3rd on @coingecko so you guys know where to look for real and market neutral data
– Kris | Crypto.com (@Kris_HK) December 25, 2021
Addressing CoinMarketCap on Twitter, Marschelek said the portal team had unreasonably downgraded Crypto.com to 14th in the cryptocurrency exchange rankings. At the time of publication, Crypto.com’s ranking on the CoinMarketCap shortlist has dropped another point, to 15th, with a trading volume of $ 1.47 billion in the last 24 hours. Meanwhile, according to alternative data from the CoinGecko portal, Crypto.com’s trading volume in the last 24 hours is $ 2.5 billion, which puts the exchange in second place after Binance.
Marshalek suggests that the arbitrary downgrade of the exchange’s rating and the irrelevant reflection of the exchange information was a consequence of the global CoinMarketCap crash.
Recall that on December 15, 2021, a large-scale failure occurred in the work of the CoinMarketCap analytical service, which led to a multiple overestimation of cryptocurrency quotes, required a complete reboot of the project servers and negatively affected the services that rely on its data.
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