In the world of cryptocurrency is all the time something interesting happens.
Not long ago, the site monitoring courses digital currencies CoinMarketCap decided to exclude prices of the South Korean exchanges of their averaged data as the rates in South Korea are always higher. CoinMarketCap later said that he tried to shield us from confusion.
However, the confusion happened: Ripple (XRP) on CoinMarketCap quickly pressed his opponent, Ethereum, took his place and held the second place after bitcoin a few days.
Other monitoring services, of course, that didn’t happen.
Now, it seems, the site reversed its decision, restoring the track South Korean prices with no official warning or explanation. Although this change could affect the cryptocurrency markets, any positive or negative reactions, it seems, not yet.
But on Korean sites, something has changed. Overall margins at the end of November decreased slightly. For example, a few days ago, South Korea was selling bitcoin for over $14 000, while the world rate would not exceed $11 500. Since then the difference has somewhat decreased, but still exists.
Normal profit in the current reality can be considered 10%. At the time of writing this article, we observed the following picture of the value of bitcoin in South Korea: Upbit — $12 098, OKEX — $11 288, Bitfinex — $11 273. This contrasts considerably with what we saw a few weeks ago.
As shutting down, so the inclusion of South Korean CoinMarketCap price is a questionable solution, especially, the service does not provide users with the ability to do it yourself, unlike, for example, Live Coin Watch.
Don’t mind if CoinMarketCap once again, if the price of bitcoin in South Korea suddenly go up to, say $15 000? Then West prices are likely to lag behind by a couple of thousand, as it usually happened.
The other question which was also raised by many: not manipulation, whether it is from CoinMarketCap? For example, another “delisting” (deletion of part of the exchanges of lists) promises new correction bitcoin. If a website is monitoring, you should do it efficiently and without confusion.
By the way, with the re-emergence of South Korean exchanges on the website increased and the total market capitalization of crypto-currencies — almost $50 billion.