CoinMarketCap Removes South Korea Exchanges, Ripple Market Cap Drops $20 Billion

Highly popular cryptocurrency price tracker CoinMarketCap removed several South Korean exchanges from its listings on Jan. 8, causing a dip in the overall market that particularly affected altcoin Ripple (XRP).

The exchanges remove include Bithumb, the world’s second largest exchange in terms of trading volume, along with Coinone and Korbit.

CoinMarketCap, which uses data from multiple major global exchanges to produce averaged prices for cryptocurrencies, tweeted Monday about their decision to remove the exchanges, saying that it was due to “the extreme divergence in prices from the rest of the world and limited arbitrage opportunity.”