XRP fans think that CoinMarketCap is manipulating the market, asking for fair calculations


The rumors are plentiful that the XRP community is not happy with how CoinMarketcap.com presents its data, particularly regarding the limits of the encrypted market. However, the debate is now divided between two fields: those who think that the site is fair compared to those who think it is involved in some sort of market manipulation by presenting incorrect data on XRP.

XRP Market Cap

The most heated debate concerns the total capitalization of the XRP market as presented on the website. For its part, CoinMarketCap says it does not take into account the XRP tokens stuck in the escrow account in its calculations, something that does not seem to impress the opponent's field. As such, the website states that the figures presented derive only from the supply of outstanding XRPs and that the same applies to other cryptocurrencies.

However, there are those who do not agree with this approach. For example, Yahoo Finance considers XRPs engaged in its market capitalization calculations. At a time when XRP's market capitalization is about $ 14 billion on CoinMarketCap, the figure is $ 36 billion on Yahoo Finance. Popular people like Dr.T and Tiffany Hayden think that the CoinMarektCap approach is flawed. There are also some in the community who think the website is biased against XRP. Case in point is when he excluded some Korean trades in his calculations on January 8, 2018.

The case with Bitcoin

One thing that annoys even more XRP fans is the fact that there are many Bitcoins that have been lost, but are included in its market capitalization calculations. Beyond that, it is said that Craig Wright owns over 1.1 million Bitcoins locked up in a guarantee deposit, yet these coins are still considered as part of the total capitalization of Bitcoin. In this case, there are those in the community who feel strongly that Bitcoin's market capitalization should be reduced by excluding the two cases mentioned.

In an attempt to clean up the casino, CoinmarketCap published a tweet, asking a member of Ripple to submit a formal request to update the figures.

[ad_2]Source link