Recently the famous platform CoinMarketCap, the benchmark for monitoring cryptocurrency price and volume trends, registered the Binance (BNB) token as the first in the ranking among the tokens of decentralized finance (DeFi).
Guess what is on # 1?
– CR1337 (@ cryptonator1337) July 23, 2020
The screenshot is eloquent and leaves no room for doubt: the Binance (BNB) token was placed first in the ranking with $ 2.63 billion, even beating the Chainlink (LINK) token which stops at 2, 61 billion dollars.
The error was related to the classification of DeFi projects and, therefore, to all the tokens and cryptocurrencies that have to do with this sector, which according to CMC are only 52, ordered by market capitalization.
Coinmarketcap and DeFi errors
The mistake of putting it at the top of the decentralized finance list was twofold, as BNB has little to do with DeFi and since it was designed to save on fees by using the Binance platform.
Many claim this was not an accident or human error, as Coinmarketcap later said, and many pointed the finger at Binance, who had recently purchased the platform.
Coinmarketcap, in fact, stated that it was just a mistake and that BNB is currently no longer listed in the DeFi ranking.
“Like any of us, the people who work at CMC are human. The addition of BNB to CMC's DeFi page was a case of human error, and when CMC was pointed out, we rectified that error. ”