Coinmarketcap and it's issues with Tracking prices

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3 years ago

Remembered when we woke up to see 1UP price fictitiously at it's all time high on coinmarketcap? Well, it seems the problem is now a recurrent tradition on this cryptocurrency price aggregation site.

coinmarketcap in it's erroneous price tracking today showed a coin that dislodged Ethereum briefly as the number two ranked crypto based on market capitalization.

What in the world is Incent? Today, according to coinmarketcap, Incent overtook ethereum as the second crypto after Bitcoin based on market cap when it was erroneously reported the coin price reached $1706 on Folgory exchange. I actually heard the name of that exchange for the first time today!

On a second thought, I decided to check Coingecko to ascertain this but I didn't even see Incent among the top 50 coins based on Coingecko. Coingecko reported it's high-res price as $1.14 over a 90 day period. This price represents the coin all time high price on Coingecko.

Incent was built in the Waves blockchain and according to Coingecko, Incent’s Ingage app allows mainstream digital content creators to seamlessly earn crypto by rewarding their viewers, instantly and in-content, for their attention, regardless of which mainstream distribution platform(s) host their content. Ingage’s reward fuel is the INCNT cryptocurrency. INCNT has a current supply of 46,016,598 and there are 46,016,573 in circulation.

One thing I believed though, since Binance bought Coinmarketcap, the site has become so unreliable with tracking price and the reputation of Coingecko is growing tremendously daily as a more reliable site for tracking Cryptocurrency prices.

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