{"id":269427,"date":"2020-07-24T09:57:46","date_gmt":"2020-07-24T13:57:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=269427"},"modified":"2020-07-24T09:57:46","modified_gmt":"2020-07-24T13:57:46","slug":"coinmarketcap-blames-human-error-for-listing-bnb-as-no-1-defi-token","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/coinmarketcap-blames-human-error-for-listing-bnb-as-no-1-defi-token","title":{"rendered":"CoinMarketCap Blames Human Error For Listing BNB As No.1 DeFi Token"},"content":{"rendered":"<p>CoinMarketCap has managed to list its parent company\u2019s Binance Coin as the best coin in its new list of DeFi coins, having the thing reach the top with no clear indication as to why. After a barrage of somewhat understandable criticisms, the coin has subsequently been delisted from the DeFi coins list.<\/p>\n<h2><strong>CMC\u2019s Listings Causing Massive Criticisms<\/strong><\/h2>\n<p>Yannick Eckl, a podcaster, <a href=\"https:\/\/twitter.com\/cryptonator1337\/status\/1286095541106024452\">noticed BNB\u2019s ranking<\/a> first. The incredible thing is how the BNB token managed to be ranked higher than many other well-known Decentralised Finance (DeFi) tokens, such as LINK, MKR, as well as COMP.<\/p>\n<p>It wasn\u2019t long before the tweet went viral, and Three Arrows Capital\u2019s CEO and founder, Su Zhu, <a href=\"https:\/\/twitter.com\/zhusu\/status\/1286103721840017410\">retweete<\/a>d the statement as well, with the simple addition of \u201cWut\u201d added to it.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\">wut <a href=\"https:\/\/t.co\/TfJcC3pdf9\">https:\/\/t.co\/TfJcC3pdf9<\/a><\/p>\n<p>&mdash; Su Zhu (@zhusu) <a href=\"https:\/\/twitter.com\/zhusu\/status\/1286103721840017410?ref_src=twsrc%5Etfw\">July 23, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Qiao Wang, a crypto trader, stated that it was a sure sign that projects were starting to rebrand themselves to DeFi. However, Qiao stated that this wasn\u2019t for any good purposes, instead just to catch some of the hype surrounding the space.<\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/05\/coinmarketcap.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-224490\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/05\/coinmarketcap.jpg\" alt=\"coinmarketcap\" width=\"706\" height=\"409\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/05\/coinmarketcap.jpg 706w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/05\/coinmarketcap-300x174.jpg 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/05\/coinmarketcap-600x348.jpg 600w\" sizes=\"(max-width: 706px) 100vw, 706px\" \/><\/a><\/p>\n<h2><strong>Blaming Human Error<\/strong><\/h2>\n<p>As CMC gained criticism from this move, it was quick to defend itself. According to the statement they made regarding this, the BNB listing on their new DeFi ranking was a human error, and boldly proclaimed that they were neutral in regards to Binance, their parent company.<\/p>\n<p>As the statement detailed, the people that work at CMC are still fundamentally human. As such, they stated that BNB\u2019s listing on the DeFi rankings was by virtue human error, something that CMC states have been rectified.<\/p>\n<h2><strong>Suspicions Aplenty<\/strong><\/h2>\n<p>What makes this statement suspect isn\u2019t the act itself, since human error can be forgiven after a bit. It\u2019s the consistent biasing towards Binance ever since the global exchange had acquired CoinMarketCap back in March of this year.\u00a0 Ever since, CMC\u2019s exchange ranking algorithms have been consistently changed in order to favor Binance in particular, pushing it all the way in top position in the data aggregator\u2019s rankings.<\/p>\n<p>The start of CMC\u2019s DeFi listings occurred by chance at the very same day <a href=\"https:\/\/www.binance.org\/en\/blog\/binance-smart-chain-successfully-integrated-chainlinks-oracle-solution-for-building-defi\/\">Binance announced<\/a> that it would integrate Binance Smart Chain with data oracles of Chainlink. According to the Binance announcement, this integration will allow its smart contracts to expand into the payments, asset management, and DeFi space.<\/p>\n<p>Changpeng Zhao is quite good at seeming innocent. The way he does this is simply refusing to engage in any talks regarding anything suspect with the Binance exchange. As a response to the entire debacle, CZ only announced that the exchange was going into DeFi, not really acknowledging any wrongdoing from any part of the space.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">CoinMarketCap has managed to list its parent company\u2019s Binance Coin as the best coin in its new list of DeFi coins, having the thing reach <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/coinmarketcap-blames-human-error-for-listing-bnb-as-no-1-defi-token\" title=\"CoinMarketCap Blames Human Error For Listing BNB As No.1 DeFi Token\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":268391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[7612,7927,7598,7599,7893],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.8 (Yoast SEO v21.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CoinMarketCap Blames Human Error For Listing BNB As No.1 DeFi Token<\/title>\n<meta name=\"description\" content=\"It\u2019s the consistent biasing towards Binance ever since the global exchange had acquired CoinMarketCap back in March of this year.\u00a0\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/269427\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CoinMarketCap Blames Human Error For Listing BNB As No.1 DeFi Token\" \/>\n<meta property=\"og:description\" content=\"It\u2019s the consistent biasing towards Binance ever since the global exchange had acquired CoinMarketCap back in March of this year.\u00a0\" \/>\n<meta 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