CoinMarketCap LLC
| Cryptocurrency Market Data Provider and Price Tracker | |
| ISIN | 🆔 |
| Industry | Cryptocurrency |
| Founded 📆 | May, 2013 |
| Founder 👔 | Brandon Chez |
| Headquarters 🏙️ | , , |
Area served 🗺️ | Worldwide |
Key people | Brandon Chez |
| Products 📟 | Crypto assets price tracker Cryptocurrency exchange rankings |
| Members | |
Number of employees | |
| Parent | Binance (as of April 2020) |
| 🌐 Website | coinmarketcap |
| 📇 Address | |
| 📞 telephone | |
CoinMarketCap LLC, abbreviated as CMC, is a New York based cryptocurrency market analyzer, data provider and price tracker.[1][2][3] As of March 2019, two cryptocurrency benchmark indices of the platform have been listed on Nasdaq, Bloomberg Terminal and Refinitiv.[4]
History[edit]
May 2013- April 2020[edit]
Brandon Chez started CoinMarketCap in May 2013.[5] The company says in one of its announcements that the commencement of CoinMarketCap was propelled by amature enthusiasm of Chez back in 2013.[6] In May 2016, the platform released its first public API.[7]
During January 2018, Wall Street Journal reported the platform to be the most-visited site among the cryptocurrency-based platforms. In the same report CoinMarketCap's algorithm was analyzed and the platform's decision to prune out South Korean exchanges (including Bithumb, Coinone, and Korbit) for allegedly trying to inflate the prices artificially,- was concluded as the reason for the considerable fluctuations in associated trading and price listings. EToro analyst Mati Greenspan also accused the site's decision for the "market to crash" and even advised to “boycott this website effective immediately”. Chez denied that the removal of South Korean exchanges was the reason for such repercussions, and said CoinMarketCap's objective was to provide a "neutral and accurate source for the cryptocurrency community" while the decision to remove South Korean Exchanges was an effort to normalize the abnormal divergence which was being witnessed from the exchanges geolocated in South Korea. CoinMarketCap's decision was alleged to have triggered, among other crypto asset price reductions, a decline in XRP’s market capitalization: a $20 billion loss, tantamount to an almost 30% price drop, on January 8th 2018. [8][9][10][11][12][13][14][15]
In March 2018, CoinMarketCap launched two headline indices, calculated and administered by the German index provider Solactive AG[16] namely CMC Crypto 200 Index (CMC200) and CMC Crypto 200 ex BTC Index (CMC200EX).[17] In May 2018, the platform released a mobile app for iOS.[18]
Acquisition by Binance[edit]
In April 2020, Binance acquired CoinMarketCap for undisclosed terms.[19][20][21][22] The acquisition of CoinMarketCap by Binance was met with some controversy, prompting Binance founder and CEO Changpeng Zhao to publish a clarification, addressing some of the concerns regarding the two companies’ new relationship, noting a focus on independence, neutrality and collaboration.[23][24][25]
In September 2020, CoinMarketCap introduced CMC Alexandria, an educational platform named after the ancient Library of Alexandria of the second century B.C.[26]
References[edit]
- ↑ Popper, Nathaniel; Lee, Su-Hyun (2018-08-20). "After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors (Published 2018)". The New York Times. ISSN 0362-4331. Retrieved 2021-02-18.
- ↑ Denham, Hannah. "Bitcoin soars to new heights after hitting $20,000 milestone". Washington Post. ISSN 0190-8286. Retrieved 2021-02-18.
- ↑ Marte, Jonnelle. "Why people are going crazy over bitcoin and other digital currencies". Washington Post. ISSN 0190-8286. Retrieved 2021-02-18.
- ↑ "CoinMarketCap launches two indices on NASDAQ, Bloomberg and others". finance.yahoo.com. Retrieved 2021-02-18.
- ↑ "About". CoinMarketCap. Retrieved 2021-02-17.
- ↑ CMC, Carylyne (2019-05-01). "Happy 6th Birthday! DATA Alliance, Block Explorers and More". CoinMarketCap Blog. Retrieved 2021-02-17.
- ↑ "Rahmati Academy - CoinMarketCap". Unknown parameter
|url-status=ignored (help) - ↑ Oberman, Paul Vigna and Jim (2018-01-23). "The Programmer at the Center of a $100 Billion Crypto Storm". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-02-18.
- ↑ Kharpal, Arjun (2018-01-11). "Over $100 billion wiped off global cryptocurrency market following talk of South Korea trading ban". CNBC. Retrieved 2021-02-18.
- ↑ Chavez-Dreyfuss, Gertrude (2018-01-09). "Bitcoin slides as website drops South Korea prices from virtual currency rates". Reuters. Retrieved 2021-02-18.
- ↑ Sharma, Rakesh. "How CoinMarketCap Contributed To Cryptocurrency Price Crash". Investopedia. Retrieved 2021-02-18.
- ↑ "South Korea clampdown on bitcoin gathers pace". www.ft.com. Retrieved 2021-02-18. Unknown parameter
|url-status=ignored (help) - ↑ "Bitcoin Price: Bitcoin drops below $15,000 as regulation, demand concerns linger". The Economic Times. Retrieved 2021-02-18.
- ↑ Cheng, Evelyn. "Bitcoin tanks 11% to fall below $11,000; South Korea announces details on crypto tax". USA TODAY. Retrieved 2021-02-18.
- ↑ "Theft at the South Korean Exchange Led Bitcoin and Ripple to Shrink". Outlook India. Retrieved 2021-02-18. Unknown parameter
|url-status=ignored (help) - ↑ "INDEX GUIDELINE" (PDF). Solactive. Unknown parameter
|url-status=ignored (help) - ↑ "CoinMarketCap Launches Crypto Indices on Nasdaq, Bloomberg, Others". finance.yahoo.com. Retrieved 2021-02-18.
- ↑ CoinMarketCap (2018-05-01). "CoinMarketCap's 5 Year Anniversary!". Medium. Retrieved 2021-02-18.
- ↑ "Changpeng Zhao, Crypto's Influence Miner". Bloomberg.com. 2020-12-03. Retrieved 2021-02-18.
- ↑ O'Connell, Justin. "As Binance Acquires CoinMarketCap, CoinGecko Pledges Independence". Forbes. Retrieved 2021-02-18.
- ↑ "Cryptocurrency This Week: Binance Acquires CoinMarketCap, Crypto Mining Using Brain Waves And More". Inc42 Media. 2020-04-04. Retrieved 2021-02-18.
- ↑ "Binance Acquires CoinMarketCap To Make Crypto More Accessible". finance.yahoo.com. Retrieved 2021-02-18.
- ↑ "Purchase of Crypto Faithfuls' Favorite Website Raises Eyebrows". Bloomberg.com. 2020-04-02. Retrieved 2021-02-18.
- ↑ "Clarifications about CoinMarketCap, by CZ | Binance Blog". Binance. Retrieved 2021-02-18.
- ↑ Dixit, Ketaki (2020-03-31). "Binance to acquire CoinMarketCap, April Fools' joke raises questions". Micky. Retrieved 2021-02-18.
- ↑ CMC, CoinMarketCap (2020-09-02). "CoinMarketCap Launches Alexandria: Learn All About Crypto in One Place". CoinMarketCap Blog. Retrieved 2021-02-18.
This article "CoinMarketCap" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:CoinMarketCap. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
