CoinMarketCap: a keystone of success or a waste of time.

Elementh team keeps the finger on the pulse, analyzing community requests and market situation. As you know, there were two the most popular questions in our telegram channel. First — “when Idex”, and second “when CMC”. And if the first one was successfully closed, the other one is still open. That is why we decided to clear the situation and share our vision about CMC listing.

In our opinion, there are some important facts that should be taken into the consideration:

1. CoinMarketCap never gives comments about their decisions. It includes unpredictable news, listing and delisting of coins and exchanges. Some people claim that they add some scam coins and do not list some good ones. Talking about our experience, we have applied to CMC several times after they canceled their volume requirements. We have also tried to reach them for conversation via telegram, but they do not show contacts there. Though we did not give up and proposed one of the exchange representatives give us the contact of CMC admin. He asked for permission from the CMC team and they refused to give the contact. Eventually, we got their reply via e-mail, saying “Unfortunately EEE does not meet our requirements for listing at this time. Please feel free to re-apply when this project has become more established”. But they do not clarify by which criteria EEE doesn’t suit.
2. Token meets the CMC requirements but refused in the listing. We have checked all their listing criteria for a cryptocurrency, stated on the CMC website:

Must be a cryptocurrency or a crypto token.

Must be on a public exchange with an API that reports the last traded price and the last 24 hour trading volume.

Must have a non-zero trading volume on at least one supported exchange so a price can be determined.

For market cap ranking, an accurate circulating supply figure is required.

So we should proudly say that Elementh token suits all of those points.. But it is still refused in the listing.

3. CMC sometimes shows inaccurate info. One of the most notable cases took part in January, when CoinMarketCap.com expelled South Korean stock exchange from their lists. According to experts, this change erased $120 billion off CMC’s valuation of the crypto market and became one of the reasons that caused the collapse in the crypto-currency markets. Even when the cryptocurrency markets lost hundreds of billions of dollars, CoinMarketCap gave no comments.

4. CMC is not the single data source. Actually, there are much more сrypto comparison sites. We know at least 3 good alternatives, such as:

• Onchainfx is investor-minded, providing a great range of metrics, including coin’s 2050 market cap (to calculate its future worth), a percentage of supply issued, ROI, and historical prices. There’s also the ability to compare the movement of two assets side by side.
• Coingecko — is one of our favorite and the first one where Elementh token is listed. It is easy in usage and has the unique feature — cryptocurrencies filter based on their hashing algorithm.
• Cryptocompare views rankings for cryptocurrencies and exchanges, with recent trades displayed in real time. Filter coins by proof type or algorithm, view mining information and read reviews of wallets.

Summarizing the information above, it should be noted that the value of token of the project doesn’t have the real connection with a Coinmarketcap listing. We should agree that CMC is a popular platform, but their listing requirements and decision-making policy remains unclear for participants of the cryptomarket. Moreover, it has analogs with extended and helpful options. Though, taking into account the requests of our community, we will apply on CMC later one more time.