CoinMarketCap discontinues tracking of some South Korean exchanges

CoinMarketCap will now show no data from many South Korean Bitcoin exchanges as the company has decided to remove tracking for those companies just as BTC dipped under $58,000. The company has removed numerous popular options, such as Korbit, Upbit, Coinone, and Bithumb.

In an exclusive commentary for Cointelegraph, CoinMarketCap content manager Molly Jane Zuckerman explained that the company had decided to act in light of the premium used on South Korean crypto exchanges.

According to CoinMarketCap, that is roughly 6% higher than most other exchanges which set the standard. In case these exchange rates stabilize, though, Zuckerman said that CoinMarketCap had every intention to add the exchanges back.

Suspension of South Korean crypto exchanges has happened before. Those instances have been usually associated with divergences and price fluctuations which simply did not reflect the average, prompting CoinMarketCap to temporarily limit access to data from those companies.

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Updated: 08.04.2021 — 00:00

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