Coinmarketcap and binance
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- Crypto exchange Binance to buy data website CoinMarketCap
- CoinMarketCap Opens Up On the Binance Acquisition
- Binance Buys Popular Crypto Data Site CoinMarketCap, Its Biggest Acquisition to Date
- Binance’s purchase of CoinMarketCap.com raises eyebrows
- Binance x CoinMarketCap: Joining Forces to Make Crypto More Accessible Worldwide
- CoinMarketCap - Filter coins by exchange
Crypto exchange Binance to buy data website CoinMarketCap
Nearly half of the 50 pump schemes with the most pronounced increase in price observed by the Journal lost value. Price performance of a coin compared with preannouncement trading price. A pump-and-dump scheme is one of the oldest types of market fraud: Traders talk up the price of an asset before dumping it for a profit and leaving fooled investors with shrunken shares. The Securities and Exchange Commission regularly brings civil cases alleging pump and dumps using publicly traded stocks.
Manipulations of cryptocurrencies are no different, but regulators have yet to bring a case in the more opaque market for them. The SEC declined to comment.
The biggest of the dozens the Journal analyzed is Big Pump Signal, with more than 74, followers on the messaging app Telegram. Many more such groups exist, potentially adding millions or tens of millions more in activity, the Journal found, but operate in private chat rooms, accessible only by invitation, generally overseen by a anonymous moderator.
These schemes became more pervasive following the recent explosion in initial coin offerings —the securities-like digital tokens sold by startups to fundraise for projects. It can all happen in minutes, and successful traders publicly gloat about their profits.
One day in early July, for instance, Big Pump Signal commanded its many followers to start buying an obscure coin created for untraceable transactions called cloakcoin—at exactly 3 p. EDT on an exchange called Binance. The price of cloakcoin skyrocketed on the cryptocurrency exchange Binance shortly after Big Pump Signal sent a message on Telegram to followers telling them to buy. Prices of Binance's ten most-traded bitcoin pairs barely moved during the Cloakcoin pump. Similar practices were outlawed in the s when groups of traders bought and sold stock among themselves to inflate the price before unloading it on the public.
In , Mr. Most operate on Telegram and Discord, where collectively they had , followers at the end of June. Like the other active groups, the Big Pump Signal operation is a mystery: the moderator is anonymous; the ownership of an associated website is cloaked; and attempts at contacting the moderator were unsuccessful.
But the operators have an advantage in selecting the coin, buying at the bottom and selling it at whatever peak they decide. All of them buy in the frenzy with the intention of taking a profit and selling before the dump, sort of like a game of crypto chicken: the longer they wait for prices to peak the more money they can make, but the risk of losing everything is heightened by the inevitable crash.
In less than a minute after placing a buy order on DigixDAO—a coin offered by a startup that claims to back its tokens with gold and listed on crypto exchange Binance since November—the price dropped steeply and never recovered, said the year-old Mr. Caudle, who lives in San Diego. Binance, currently the largest online exchange by volume, according to research site CoinMarketCap.
It has hundreds of coin listings, many small enough for a pump group to effectively buy and control. The target coins of Big Pump Signal over the past six months are typical of the pump groups: coins with just enough trading activity to garner broader interest, pulling in new traders, and inexpensive enough for people to buy up a meaningful share.
Cloakcoin was a middle-of-the-pack pump for Big Pump Signal. The coin was traded on only eight exchanges and was ranked among other cryptos on CoinMarketCap in early July, which tracks market activity across 1, coins. In the July pump, the richest trades happened within the first minute of trading, the Journal found.
At the same time, the traders were very pleased with the cloakcoin pump. The Journal identified groups offering trading "signals" on chat applications Telegram and Discord by collecting links from advertisements of "pump groups" posted to popular cryptocurrency message boards including Reddit and bitcointalk.
The Journal on June 29 visited each Telegram or Discord link to determine if the group was still active and found 63 rooms with publicly accessible chat histories. While reviewing communications taking place since Jan. The Journal then downloaded pricing, volume and market capitalization data at five minute intervals from CoinMarketCap.
The Journal found different digital coins mentioned in chat logs with corresponding trading data found on CoinMarketCap. To determine additional volume, price performance and gains or losses in market capitalization, the Journal compared changes in trading data from two hours prior to a "pump signal" against data from two hours after.
Additionally, the Journal downloaded trading data of every bitcoin pair listed on Binance at one-minute intervals directly from the exchange on July 1 and July 4, the dates Big Pump Signal traded Cloakcoin and Nexus. The Journal analyzed the trading data for changes in price and volume an hour before and after the "pump signal" was posted to Telegram.
Additional design from Stephanie Stamm. Price performance of a coin compared with preannouncement trading price Lost value Gained value. The Cloakcoin Pump In Realtime The price of cloakcoin skyrocketed on the cryptocurrency exchange Binance shortly after Big Pump Signal sent a message on Telegram to followers telling them to buy. Caudle maxed out a credit card to participate. Pump announced. Write to Paul Vigna at paul.
Methodology The Journal identified groups offering trading "signals" on chat applications Telegram and Discord by collecting links from advertisements of "pump groups" posted to popular cryptocurrency message boards including Reddit and bitcointalk. Share this story.
CoinMarketCap Opens Up On the Binance Acquisition
Saad is an engineer with more than a decade of experience in FMCG companies. He loves to write about innovative tech and blockchain. Binance, the largest crypto exchange by trading volume, has acquired token listing and crypto asset data tracking platform CoinMarketCap. In a blog on its own platform yesterday, CoinMarketCap announced that Binance and it had reached an agreement. The two platform will continue their vision of making digital assets accessible to the public and the acquisition will not have any major impacts on the current workings of CoinMarketCap. Binance will continue its operations as normal and so will CoinMarketCap. It was stressed in the blog that both, CoinMarketCap and Binance will remain independent platforms.
Binance Buys Popular Crypto Data Site CoinMarketCap, Its Biggest Acquisition to Date
Binanace must be wanting to get rid of some Yuan as the CCP is just dumping Billions of it into the Market via bailouts, while people in Wuhan are supposedly coming [1] back online and wanting to 'Revenge shop. The other notable purchases Binance as made have been other exchanges, and a news site in China, which make actual sense to strengthen their position or get a foot-hold in other Markets in their core business as an exchange. Avalaxy on March 31, prev next [—]. Maybe I'm missing something, but last time I checked, CoinMarketCap was just a stock ticker website for cryptocurrencies. Where is the value? You're underestimating the influence CMC has over the space. They determine what exchange volume is legit and what isn't, also what coins are worthy of being listed. At the least, this gives Binance additional stability, at the most, they can really consolidate trading volume at their exchange and for Binance approved coins. The coinmarketcap volume is not legit at all.
Binance’s purchase of CoinMarketCap.com raises eyebrows
The crypto trade-volume and statistics aggregator joins a growing list of companies acquired by the gargantuan Binance crypto exchange over the past two years. It is already among the top exchanges in terms of the sheer number of users. There is bound to be a conflict of interest as the agency also owns the BNB Coin. In addition, the acquisition gives the company access to sensitive competitor data, which is now at risk of being manipulated.
Binance x CoinMarketCap: Joining Forces to Make Crypto More Accessible Worldwide
Bitcoin price dropped after hitting record high earlier this week. This launch gave a boost to cryptocurrency, not legally accepted in many parts across the world, as an alternative asset class. Bitcoin price fell 2. Ether, Binance coin also slumped on October However, that session lasted for a very short span.
CoinMarketCap - Filter coins by exchange
Crypto prices on popular trading app Coinbase and data provider CoinMarketCap. Guru WatcherGuru December 14, Coinbase also acknowledged that it displayed inflated prices on its website. This is a display issue only and does not impact trading. Time to buy some NFTs!! Thanks coinbase!
Find centralized, trusted content and collaborate around the technologies you use most. Connect and share knowledge within a single location that is structured and easy to search. All I want is to list the coins I am showing in a list view in the order of their market cap rank, if possible.
By Olga Kharif. Binance Holdings Ltd. It also provides rankings of exchanges and coins. While Zhao said CoinMarketCap.
Ibnb coin market cap. BNB is down 5. We also gather additional information from different sources to make sure we cover all necessary data or events. The price increased by 6. It shows where our crypto market is heading as a whole.
Executives of CoinMarketCap have released an open letter discussing the Binance acquisition. In it, soon-to-be CEO Carylyne Chan seeks to reassure users that the website will remain independent, and will put greater efforts into offering more services. In the letter , Chan addresses a number of concerns that the websites users may have.
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