According to Odaily, CoinMarketCap recently issued a statement on the X platform to clarify its functionalities. The platform emphasized several key points to address common misconceptions about its services.

Firstly, CoinMarketCap is not a cryptocurrency exchange. The website does not facilitate the buying, selling, or trading of cryptocurrencies. This clarification aims to inform users that they cannot conduct any direct transactions through the platform.

Secondly, users cannot withdraw tokens via CoinMarketCap. The platform does not support any withdrawal functionalities, which means it cannot be used to move cryptocurrencies from one wallet to another.

Lastly, the CMC-Portfolio feature is a tracking tool rather than a cryptocurrency wallet. This tool allows users to monitor their cryptocurrency holdings but does not provide storage capabilities. CoinMarketCap's statement seeks to ensure that users understand the limitations and intended use of its portfolio tracking service.