Is Coinmarketcap Manipulating Prices?

Been lurking here a while, but had to jump in. Today, Coinmarketcap pulled Korean exchanges without any heads-up. This caused a massive sell-off of bitcoins and altcoins, leading to a huge price drop. Makes me wonder if they did it on purpose. Seems pretty sketchy to me.

You really think CMC is the reason for this dip?

Nah, traders who actually move the market aren’t checking CMC. They’re focused on their own exchanges. Mondays are always rough in crypto, so not too surprising.

You can literally see the drop on their site in seconds. It’s way more gradual on actual exchanges. Plus, everyone’s buzzing about it everywhere. Seems significant.

Come on, CMC isn’t that powerful. There are much bigger issues happening around crypto.

Throwing around the term 'scam' too much these days. CMC isn’t a scam, but they can be really careless. Removing Korean volume out of the blue? Totally irresponsible.

Yeah, ‘scam’ isn’t the right term. ‘Incompetent’ fits better, but why should we trust CMC as our go-to?

This isn’t about CMC messing up. News from South Korea is what triggered these dips. Just look into it.

I get what you’re saying, but these accusations come up because CMC is the most visited site. Any mistake they make has a huge impact. 92% of investors rely on them, which is something to think about.

How’d you arrive at 92%? Sounds kinda made up.

You can’t call it a scam if there’s no direct money involved. CMC isn’t in the wrong, really. The majority of crypto investors don’t research and just follow trends. It’s wild.

Just saw some complaints on CMC’s Twitter about this. People are upset. They really removed South Korean exchanges, and that’s likely why prices dropped, especially Ripple.

True, but I think news from China stirred panic buying more than CMC. Saw that news too, but nice to see prices bouncing back.

This whole situation is a bummer. The crypto community often overreacts, and it’s a new industry. Investors are still getting used to the volatility.

Money is definitely involved. Imagine if CMC’s employees or whales are making profit from this chaos. Panic sellers are losing a lot.

I edited my earlier post about calling it a scam. No matter the term, they weren’t upfront about their actions, and that bugs me.

As others said, CMC alone couldn’t cause this dip. But it’s a bit dodgy calculating averages with less reliable exchanges.

Fair point, but even if CMC influences just a little bit, I think it’s key we keep talking about it. Newbies need to know CMC isn’t always reliable.

CMC isn’t scamming anyone, but their misinformation definitely fuels panic selling. More like they’re messing with people’s trust.

Exactly, manipulation isn’t the same as scam. Their actions can lead to panic, though, and that’s still a big issue.