Recently listed Binance Coin token on CoinMarketCap at the top of its new DeFi listing – and then quickly removing it following a barrage of criticism, was all just by mistake.
Primarily revealed by podcaster and Twitter user Yannick Eckl [@cryptonator1337], BNB was listed above other renowned decentralized finance tokens like Maker [MKR], Compound [COMP] and Aave [LEND].
The tweet soon went viral. CEO and founding father of Three Arrows Capital retweeted it simply saying “Wut”, while cryptocurrency trader Qiao Wang said it as a sign project and was re-rebranding to DeFi to take advantage on the hype:
“Total DeFi market cap will 10x within the next 3 months not because present DeFi projects will 10x, but because all cryptocurrency projects will rebrand themselves as DeFi.”
CMC Trying To Maintain Neutrality From Binance
CMC revealed in a statement that Binance’s listing within the DeFi ranking was an error that CMC maintained its neutrality from parent company Binance:
“Like any of us, the folks that work with CMC are human. The addition of BNB to the CMC DeFi page was a case of human error, and when it had been acknowledged to CMC, we rectified that error.”
The incident is merely the newest within a series of controversial ongoing changes that occurred in the aftermath of Binance acquiring CoinMarketCap earlier in the mont of March. Amendments to CMC’s exchange ranking algorithms have seemed to favor Binance, pushing it into new highest position.
The DeFi listing came the same day, Binance announced the mixing of the Binance Smart Chain with Chainlink data oracles. Consistent with Binance, this new collaboration will permit its smart contracts to expand into DeFi, payments and asset management.
Adding further, Binance CEO & founder, Changpeng Zhao said: “And we’re onto #DeFi”.