Post
Topic
Board Altcoin Discussion
Re: CoinMarketCap Rankings
by
RussiaUkraineTranslation
on 15/08/2022, 11:58:52 UTC
I know two coins/tokens that are stuck there : Hex and Kadena. Hex's market cap is highly inflated because lots of tokens are locked for years and Richard Heart owns an estimate of about 90% of the supply. The liquidity of Hex is below 100 million in total I believe, so it's purported market cap of 10s of billions is deceitful.

Kadena, on the other hand, has healthy liquidity and volume for its market cap and it's a perfectly legit token. It's listed normally by CoinGecko. It just so happens CMC has certain requirements before it lists a token in the top 200 (source : https://support.coinmarketcap.com/hc/en-us/articles/360043836851-Ranking-Market-Pair-Cryptoasset-).

Quote
    Top 200 Rank: The project must minimally have a CMC-verified market capitalization and fulfill the requirements outlined in (1) - (5) above.
    Top 201 Rank and beyond: The project must minimally have a CMC-verified market capitalization but does not need to fulfill the requirements in (1) - (5) above.
    Unranked: Cryptoassets without a CMC-verified market capitalization sorted by 24h trading volume.

Both CMC and Coingecko don't record market cap correctly and I am looking forward to the time when another price tracker becomes more popular. The HEX market cap is all wrong and it should have been in the top 10 based on it's metrics. I'm hoping that the same thing doesn't happen to MAXX finance when they launch.