The hype about decentralized finance continues. The entire industry is now trying to benefit from this trend. Even projects that previously had nothing to do with DeFi are suddenly presenting applications for decentralized finance. The ranking website Coinmarketcap, which was recently taken over by Binance, now has to face severe criticism. They are also accused of exploiting the DeFi hype.
Chainlink (LINK) tops the list of DeFi cryptocurrencies
Coinmarketcap is the most well-known website when it comes to comparing the prices of the more than 5700 cryptocurrencies now listed. Just a few months ago, none other than Binance, the Bitcoin exchange, acquired the website for an alleged sum of more than $ 400 million. Due to the current hype about DeFi applications, a new feature has now been added.
At coinmarketcap.com/defi, visitors can find their own ranking for cryptocurrencies in the area of decentralized finance. The ranking is led by Chainlink (LINK), a project that had experienced enormous hype in the past few weeks. Places two and three are occupied by Maker (MKR) and Compound (COMP).
There are currently 60 cryptocurrencies listed in the DeFi ranking. However, given the speed with which new projects from the area of decentralized finance are being presented, this number should not remain in double digits for long. Because even projects that generally do not qualify as DeFi have already been listed. And not entirely by accident.
Coinmarketcap lists Binance Coin (BNB) as a DeFi project
A few days ago, Coinmarketcap had to face violent criticism for a specific cryptocurrency in the ranking. Suddenly Chainlink (LINK) was no longer in the first place, but Binance Coin (BNB). This gets a bland aftertaste, considering that Coinmarketcap is in the hand of Binance.
The Twitter user @ CR1337 was one of the first to draw attention to this incident. He posted on Twitter:
Apparently, Coinmarketcap now has a DeFi ranking.
Guess what's in first place?
Right, BNB! What a coincidence. By now everyone should have realized how shamelessly Binance acts.
Guess what is on # 1?
- CR1337 (@ cryptonator1337) July 23th, 2020
In the meantime, Binance Coin (BNB) has been removed from the ranking again after heavy criticism from the community. According to the company, it was a human error. Furthermore, one promises that Coinmarktecap despite the takeover by Binance the weiterhin will act independently.
Markus from Kryptokumpel.de
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