The cryptocurrency world constantly surprises with news. For example, CoinMarketCap recently removed South Korean exchange prices from its data charts. The monitoring site did this because the South Korean exchange rate is always higher. After this, representatives of CoinMarketCap explained that in this way they wanted to achieve accurate weighted average prices for major cryptocurrencies.
But they didn’t succeed: Ripple (XRP) instantly took the place of Ethereum and did not fall below second place for several days. It is clear that such a situation occurred only on this service.
As we see now, CoinMarketCap changed its decision. South Korean prices have returned to the site. Moreover, without explanations or warnings. According to some experts, this situation could affect the course of events in the cryptocurrency markets. But so far this has not been observed.
There have been changes at the sites themselves in South Korea. Cryptocurrency margins have become smaller. A couple of days ago, the South Korean price of Bitcoin was over $14,000 (worldwide no more than $11,500). Now the difference is smaller, but it is still there.
10% can be considered a fair markup. Unlike Live Coin Watch, where the user can turn the price on and off, CoinMarketCap does not provide such an option. Therefore, the situation with South Korean prices is controversial.
What could happen if the price of Bitcoin rises again in South Korea? Will CoinMarketCap change its decision again? According to skeptics, this will affect Western prices, which will again fall by several positions.
Some experts are inclined to believe that this is pure manipulation. That in this way CoinMarketCap is simply delisting. And this promises a new Bitcoin correction. But, in such cases, the quality of operations must be at the highest level.
By the way, such operations on the site led to an increase in the total market capitalization of the cryptocurrency by $50 billion.
You May Also Like
China is preparing to introduce a social credit rating
A social credit score that affects not only how other people interact with you, but also what services you have access to is too far-fetched, right? Not for China, which makes a utopian idea a reality.
Japan and cryptocurrencies: a unique situation
Japan is the place where cryptocurrency appeared, where Bitcoin.com is headquartered, where the first crypto exchange MtGox was created, and the birthplace of the mysterious Bitcoin creator Satoshi Nakamoto. However, the entire development of the digital movement taking place in the Land of the Rising Sun still remains a mystery in the Western world.
