Top 0 Coinmarketcap: WallStreetBets!

[MrSpasybo 1049]

I am really surprised to see WallStreetBets in first place = Top 0 on Coinmarketcap, above Bitcoin.

I don't understand what the Coinmarketcap managers aim for when they make such a decision, it seems that they are trying to make something of a difference following social trends. My friends thought that WallStreetBets might have paid Coinmarketcap a huge amount of money for that position.

In the future, can a project, for example Ripple, pay more for a Top (-1) position on Coinmarketcap?

[abohasnn9 2401]

My friend, this matter is due to the perpetrators of the impiety, as the currency generally supported and preceded the circulation of Bitcoin, but mostly in a temporary form in general. Supporting Bitcoin or any currency is a natural matter like a coinmarket Thank you very much

[Ridam 7455]

You are getting it wrong. Nothing is paid here to CMC by wall street. CMC is just affronting the Wall Street Bets. You can see the position is 0 which clearly shows that they are mocking and we also have to take it in a funny way.

And talking about Xrp going position in -1 what that means lol🤣. The top position is #1 and Btc will remain on that no matter what. They will remove the 0 position after this ongoing wall streeet situation cooldowns. 

[yonkii 3205]

I was surprised with coinmarketcap putting the Wallstreetbets on top. I tried to understand why would they do that. They seem to be sending a message that support these GameStop stock traders, and perhaps try to send a secondary message hidden within about trading crypto and perhaps joining Binance. I don't think this website cares a lot for whatever messages are given in the wallstreetbets subreddit.

[Syedbesharat 5423]

The coinmarket ser it for advertising and the rank is given to the coin is zero so they are not counting him. Their for we have to take it light not as manipulation from coin market. Their is a ranking system where all coins get rank from coin market. So far the Doge pump up was from a simple social media hype. The price is going low of meme coin and we have to ready for more in 2021.Because now the crypto is getting effect of social media activities. 

[kryptonick 2659]

This group will most likely get into a lot of trouble, as by doing what they did they broken too many laws on financial stability of markets. This pump and the dump that followed is coordinating market manipulation and I am amazed how so many people don't see that and just went on and bought like idiots and of course then lost their money. The investors today are even stupider than those we see in the movie "Wolf of Wall Street". It is remarkable how many financial illiterates hold so much money and invest.

Then again, this is the difference between the US and the rest of the world, where money is not this easy to make.

[MrSpasybo 1049]

On 3/11/2021 at 5:57 PM, kryptonick said:

This group will most likely get into a lot of trouble, as by doing what they did they broken too many laws on financial stability of markets. This pump and the dump that followed is coordinating market manipulation and I am amazed how so many people don't see that and just went on and bought like idiots and of course then lost their money. The investors today are even stupider than those we see in the movie "Wolf of Wall Street". It is remarkable how many financial illiterates hold so much money and invest.

Then again, this is the difference between the US and the rest of the world, where money is not this easy to make.

@kryptonick I also started thinking about this when people could not buy Gamestop shares on Robinhood, many people lost money when buying stocks at the price above 400 USD, even one young man committed suicide. If the WSB continues to be involved in many other cases in the future, they may face lawsuits. However, the short sellers themselves and Robinhood are also responsible for part of the market manipulation.

[kryptonick 2659]

17 hours ago, MrSpasybo said:

@kryptonick I also started thinking about this when people could not buy Gamestop shares on Robinhood, many people lost money when buying stocks at the price above 400 USD, even one young man committed suicide. If the WSB continues to be involved in many other cases in the future, they may face lawsuits. However, the short sellers themselves and Robinhood are also responsible for part of the market manipulation.

The fact that short selling is available is not the issue. The problem is when manipulation is happening. There are funds that are having a strategy to open shorts and then go on a campaign on TV and media and create FUD about companies. This usually is not allowed. But this doesn't mean short selling is not ethical. Whatever these guys at WallStreetBets were doing was 100 times worse. As it was obvious reading what they were posting in Reddit, that they profited a lot by this. It is clear pump and dump, and covered by some fake ideology that they were crusaders against the big guys.

Do we even know who these people are and who they are serving? It was always shady from the beginning what they did, and having some language that matches what the shills in Bitcoin are doing created more advertisement for them. And after that they pumped shitcoins as McAfee was doing. Yet, McAfee is in prison already and facing charges.

[MrSpasybo 1049]

@kryptonickI don't know much about WSB, but most of the community is interested in their actions because community members believe that the short sellers and Robinhood are the bad rich, perhaps because they like Elon Musk's view of the short-sellers.
WSB simply goes against the trend of the market, and makes the community joy when make the short sellers lose heavily, but it is much of them lose money when follow the trend of WSB. We do not know who is behind WSB, most likely it is a group of people who like to manipulate the market, no one can know how much money they (WSB) made during that pump.

[MrSpasybo 1049]

@SamanthajhonzAs you said, at first I was quite confused about WSB's appearance on Coinmarketcap, but fortunately I didn't invest in it ^^
That joke of Coinmarketcap has become an important part of the Binance ecosystem, it has become a major channel to promote the crypto market as well as positive news related to the market. At least I did not see news of Biden's election in the Coinmarketcap top0 🙂

[selfmade 7]

This is not the first time this happens in marketcap website with low quality coins. I think these coins pays the website to be ranked at top 0 for advisement purpose.

[RoyalHouse01 9]

Some of the time there is a hype about any coin or topic and that is why it is been traded by a lot of the people and it ranks first for few hours that is what happened with this one also.

[selfmade 7]

On 3/14/2021 at 7:58 AM, RoyalHouse01 said:

Some of the time there is a hype about any coin or topic and that is why it is been traded by a lot of the people and it ranks first for few hours that is what happened with this one also.

But then for such coins the market-cap does not exceed that of bitcoin but still they are put on top, also if that coin just ranked up why put it on rank 0 which does not exist instead of rank 1.