The CoinMarketCap Ranking System Is Complex

CoinMarketCap happens to be one of the most followed crypto portals. Dozens of crypto portals, get their data feed from CoinMarketCap. Mounds of data and information for at least 10,000 cryptocurrencies, can be accessed on that single portal. It was a few years ago that Binance purchased CoinMarketCap (CMC) and that, started a few rumors.

Consider that Binance has a direct interest in a few specific cryptocurrencies, so talk about CMC rankings being biased towards, Binance related cryptos did not come as a surprise. Rumors continue to this day, a few investors keep questioning specific crypto rankings. In this brief report, we narrate our opinion and our experience in dealing with CoinMarketCap.

Cryptocurrency ranking on CMC was a lot simpler before, Binance came in and went about fine tuning the parameters, that determined a crypto rank. Older algorithms on CoinMarketCap seemed to give high priority to market cap, when ranking a cryptocurrency. Binance did implement a number of updates on the portal, this after the exchange took over CMC. Crypto ranking started to give weightage to a wider range of parameters, this in our opinion was the right move.

Briefly narrating our experience in dealing with CoinMarketCap. Glitzkoin GTN was listed on CMC even before, the portal was taken over by Binance. The Glitzkoin team has faced almost no problems in coordinating and communicating with the CMC team. Talking specifically about the Glitzkoin token rank on CoinMarketCap, the rank does seem to reflect reality.

While our team has not (yet) fully grasped CMC algorithms, the ranking system does seem to keep track of various parameters. A few features that have been added to CoinMarketCap, have increased the utility value of the portal.

One last but very important point, a piece of advice to all crypto investors. It is never a good idea to rely heavily on a crypto portal or any crypto report, without making your own evaluation. Consider any information got through CoinMarketCap or even any piece of Glitzkoin media content, to be a mere indicator. If you find the information to be of interest, do your own analysis and checks – impulse investment decisions can often be risky. So get all the information that you need and then, make a well informed decision.

While CoinMarketCap provides fairly substantial information related to various cryptocurrencies, the portal is not meant to act as an investment advisor!

Track Glitzkoin GTN on CoinMarketCap

 

 

 

 

GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token.  The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.

The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token. 

The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform.  This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.

Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.

 

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Related Resources: [Project Updates] [Buy Glitzkoin GTN] [Glitzkoin YouTube]