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CoinMarketCap integrates Uniswap! Launches new token swap feature

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CoinMarketCap integrates Uniswap! Launches new token swap feature

The cryptocurrency data platform CoinMarketCap (CMC) has launched a cryptocurrency exchange feature, with Uniswap being the first decentralized exchange to be supported.

Prior to this, the crypto community often complained on Twitter that while CMC provided cryptocurrency price data, the exchange functionality was not sufficient and not very user-friendly for novice traders.

In addition to previously having links to sponsored partners like Crypto.com, Blockchain.com, and Binance exchange on the platform, it has now further integrated decentralized exchanges and cryptocurrency wallets.

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Support for Uniswap and Ethereum Network

In the future, users will be able to connect their Ethereum wallets on CoinMarketCap and exchange tokens on the Ethereum chain through Uniswap. Currently, the information is as follows:

  • Supported Blockchain: Currently Ethereum
  • Supported Decentralized Exchange: Uniswap
  • Supported Wallets: MetaMask, WalletConnect, Coinbase Wallet, Fortmatic, and Portis

Binance Acquires CoinMarketCap at a High Price

Last April, Binance acquired the current largest cryptocurrency data platform, CoinMarketCap, for $400 million. This move raised questions from the public about the fairness of its data, especially after the introduction of the new ranking system, where Binance took the first position.

Binance founder Changpeng Zhao has repeatedly emphasized that CMC is a highly independent department, with a high degree of team autonomy. He stated:

Previously, CMC presented the received data as it is, but users saw a bunch of fake trading volumes and unheard-of exchanges. My principle on neutrality is very simple, Binance (or any exchange) will never be artificially ranked number one.

Perhaps to avoid interfering with the operation of CoinMarketCap, Changpeng Zhao did not mention this update on Twitter.

After the acquisition of CMC, its competitor Coingecko's momentum gradually increased. However, according to data from Similarweb, CMC still ranks 197 globally, while Coingecko is at 492.