Coingecko vs Coinmarketcap

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Avatar for Wumeepope
3 years ago

It's been a very long time I checked Coinmarketcap simply because, after it was acquired by Binance, I have issues with it's credibility to effectively aggregate crypto prices and exchange volumes. This was first evident with their exchange trust scores that changed after the acquisition.

There's no better evidence to prove its flawed price aggregation and trust scores than what happened when I saw 1UP price trading at $0.1 on 1INCH DEX as reported by coinmarketcap . I was happy, hoping it's time to dump my bag and move on for good from 1UP tokens. Then I checked Coingecko and saw the price there didn't correlate with price on Trust wallet. Alas, I'll be holding my bags longer! I checked 1INCH DEX the price was quoted as $0.1, connected my wallet, tried to exchange and noticed the price was same as Coingecko price.

Coinmarketcap later reported this as a glitch! I believe these price aggregators sites have mechanism to filter Exchanges reported volume and the actual volume. I don't get the glitch. Overtime, Coingecko has been more consistent as data aggregation site and more people are beginning to trust them over coinmarketcap. It's normal to try check the site and get the notification the site is filled to capacity and you'll have to wait.

With new success comes new responsibilities and I believe Coingecko should increase the bandwidth of their website to accommodate more visitors.

As for me, I prefer Coingecko as the go to site for price and metric analysis and I'm hoping the site keep improving.

Which one do you prefer? Coingecko or Coinmarketcap?

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Comments

I prefer Coingecko for sure. I like the layout much more and the metrics they provide are really nice too such as a project's social media presence and development etc. While I never had any specific problems with CMC myself it seems to be the one people complain about more often (I've never seen anyone online complain about Coingecko that I can remember)

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3 years ago