At the start of April, Binance acquired industry-leading crypto data tracking site, CoinMarketCap, in a deal reported to be in the range of $400 million.
A few weeks after, however, recent findings first published by Quantify Crypto suggest that communication between both companies may not have hit the right synergy, yet.
On March 26, Binance announced following the dissolution of the DigixDAO, that it would delist the token from its platform. The exchange promised to delist DGD and halt trading on DGD/BTC and DGD/ETH trading pairs within the next 24 hours before eventually closing deposits permanently on March 28.
Also, in line with its support for delisting, Binance would go-ahead to distribute ETH tokens to qualified DGD holders at a fixed ratio of 1 DGD = 0.193054178 ETH.
However, while the decision to support the DigixDAO dissolution has been successfully executed by Binance [both DGD/BTC and DGD/ETH markets are closed], CoinMarketCap at the time of writing was still showing trading volume for the deleted DGD trading pairs on Binance.
The over $90,000 reported trading volume from Binance’s non-existent DGD market raises a question around what the status of “Recently” means on the CMC website since it has now been over three weeks since Binance stopped trading in DGD.
Also, given that the tracking website’s “Adjusted” metric was supposed to filter questionable trade data reported from exchanges, the latest discrepancy suggests that the data should not be trusted completely.
Meanwhile, this is not the first time that CoinMarketCap has come under fire for inaccurate data. In November, Coinfomania reported that CMC introduced a new “Liquidity” metric to combat the long-existing problem of fake trading volume on crypto exchanges.