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RE: Hello Steem! CoinGecko is here! πŸ‘‹πŸ‘‹

in #introduceyourself β€’ 6 years ago (edited)

Welcome @coingecko. I want to personally thank you for joining Steemit and vesting a considerable amount of STEEM to support our community. You are clearly setting the bar for other businesses.

I know it didn't come easy as you were having difficulty transferring STEEM during our Exchange wallet outage aggravated by the recent Hard Fork. I appreciate witnesses that supported with recommendations on how to get around this temporary issue.

I have a suggestion if you are interested:

Most ranking sites including coingecko rank exchanges that no longer support transfers in or out of the exchange. For instance, there is a significant amount of STEEM on one of those exchanges called HitBTC. Their STEEM wallets have been frozen for 8 months now. We presume that HitBTC will never fix their wallet issue. Much of that STEEM came from users here and got marooned on HitBTC. Occasionally when there is high market volume, the price of STEEM and SBD on HitBTC will moon. I have seen price shoot to $140 per STEEM. This is not real since the exchange has abandoned their wallet and are trading virtual versions of STEEM and SBD. This also causes massive inaccuracy in the price and ranking of our currency. I recommend that HitBTC be set apart on STEEM and SBD ranking with a note stating that HitBTC STEEM/SBD wallets are not functioning.

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Hello @socky, we are well aware of this issue on some of the exchanges. If you look at the Steem price based from the exchanges data we pull. We constantly mark out outliers that either show negligible volume or prices that do not correspond to the weighted average. So while it's still listed on the panel, it is no longer taken into consideration until it no longer becomes an outlier.