Popular CoinMarketCap is a crypto coin prices and coin market cap tracker containing a portfolio tracker.
Very popular worldwide, according to Alexa is the 154 popular website globally, and 47th in the United States.
Accoring to some analytics tools, CoinMarketCap has dozens of millions of unique visitors per month.
Few hours ago, CoinMarketCap decided to exclude South Korean Prices from its chart related to Ripple (XRP).
According to our analysts this is a huge mistake. Prominent exchanges related to Ripple are based in South Korea: Bithumb, Coinone, Korbit. XRP has a volume > 40% on South Korean market. It means they removed data related to a fundamental asset of XRP.
They did similar with Ether, but South Korean market in this case represents just 5%. They didn’t the same with other cryptocurrencies where South Korean market is relevant.
CoinMarketCap decision to exclude Korean exchanges from the average price caused panic between holders, but the truth is: price has not fallen.
The decision to remove the South Korean market from the average price is meaningless. But worse, it is decided to remove the average price without writing a statement. This is a serious lack of transparency.
On cryptocurrencies that action can generate a collapse and the loss of investments for individuals or groups of investors.
CoinMarketCap is an extraordinary tool that helps hundreds of thousands of investors every day, but their lack of trust is not acceptable.
At Ripple News Tech, however, we consider the idea of removing the crazy South Korean market. The world of crytpocurrencies is interconnected and global: in 2018 it is unthinkable to exclude a market, especially when this is a fundamental market.
Now CoinMarketCap may decide to re-add the South Korean market or not, but we believe credibility is needed to continue to provide data to millions of people. And according to Ripple community this is a fall of style.
However, the Ripple community is very strong and thanks to social networks, information sites like this, we will always try to provide detailed and updated information. This is the year of the Ripple and it will not be a hidden move to stop this revolution.