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Traders Grow Suspicious Of CoinMarketCap's Ranking After Binance Buyout

Emily Mason

Summary: Blockfyre has come out in support of CoinMarketCap's exchange ranking system after the company faced criticism for listing Binance in it's number 1 exchange spot. The criticism comes after Binance purchased CoinMarketCap in April. Blockfyre awknowledged in a tweet users' concerns that Binance could downgrade competitors in the rankings to gain an edge, but wrote that ...

Blockfyre has come out in support of CoinMarketCap's exchange ranking system after the company faced criticism for listing Binance in it's number 1 exchange spot.

The criticism comes after Binance purchased CoinMarketCap in April. Blockfyre awknowledged in a tweet users' concerns that Binance could downgrade competitors in the rankings to gain an edge, but wrote that at the moment it did not look like that was happening.

Blockfyre also wrote that CoinMarketCap's new ranking system allows for a more honest approach. 

By Emily Mason

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