The market situation in the Cryptocurrency World is never stable and there are many ups and downs in it. Many big news comes out in the coming days, while on Friday, Crypto Fence also got a shocking news when the token of a European Crypto Exchange “Whitebit Coin (WBT)” left behind the Pi Coin of Pi Community on Coingcko in the market cap. However, this news is not limited to this, the interesting thing is that WBT’s market cap is far behind the Pi Community on Coinmarketcap. Now the questions are arising as to why this inequality was seen and what is the reason behind it. So let’s know in detail the story behind it.
WBT left Pi Community in Market Cap on Coingecko
Till the news is written, WBT Value on Coingecko is $ 29.22 and has seen a slight decline of 0.1% in 24 hours. At the same time, its market cap is about $ 4.2 billion, which gives it 32 V position. At the same time, the market cap of Pi Community is also around $ 4 billion, with which it is in 33rd position and its price is $ 0.60, which shows a drop of 2.8% in the last 24 hours. At the same time, the performance of PI Community has been very poor in the last one week, in which its price has declined by 9%. The 24-hour trading volume of the Pi Community is around $ 72 million, while the WBT volume is around $ 18 million. However, despite the PI volume being high, WBT has surpassed PI in the market cap.
Why is the situation different on coinmarketcap?
The situation on coinmarketcap from coingcko looks quite different. Here the Pi Community is placed on 27th position and its market cap is $ 4.17 billion until the news is written, while the WBT is far behind this platform at 3168th position, where its market cap is visible only $ 2.53 billion. Pi Coin’s trading volume on coinmarketcap is $ 61.02 million, which shows a decline of more than 50% in the last 24 hours, while WBT’s trading volume is $ 22.13m million, which has increased by 16.11%. After seeing these figures, now the question is arising in the minds of the people that, what can be the reason behind such a big difference? This was also done in TLC Coin and both coinmarketcap and coingcko were telling different data. Due to which questions were raised in the Crypto Community, Is TLC Coin safe or is there a scam?
What is the reason behind the difference in data on coingcko and coinmarketcap?
Both coingcko and coinmarketcap collect platforms in different ways. In particular, the method of calculating their circulating supply for controlled tokens by crypto exchanges may vary. At the same time, WBT is supported by Whitebit Change and there is also no clarity that how much part of it is really available in the open market. On the other hand, Pi Community has been launched officially a few days ago and many people are doubting whether his market cap is completely accurate or not.
This inequality also indicates that the accuracy of data sometimes in the crypto market can be suspicious and requires reputed analysis to understand the reality of the market cap of any token. Therefore, the figures available on one platform may be quite different from other platform data.
Conclusion
It is clear from this whole incident that the market cap and ranking of the token in the crypto market is not always as accurate. Platforms such as coingecko and coinmarketcap collect and present data in different ways, which can sometimes cause inequalities. Especially when it comes to such tools, which are controlled by exchanges, such as Pi Community and WBT.
Crypto Investors should remember that the market cap and ranking of any token should not be decided by looking at only one platform. Understanding the difference between the data available on different platforms may help investors determine their strategy in the right direction. Thus, it is very important to take information from many soles to know the real condition of any token. Along with this, if you want to know in detail about the crypto market, then you can go to our NFT Information, Crypto Exchanges and Blockchain Information Sex. Where you will get this Why did Crypto Platform suspend its co-founder? You will get to read such unique news.
