CoinMarketCap will take into account user doubts …
CoinMarketCap will take into account the doubts of users regarding the reliability of the displayed data
CoinMarketCap, the cryptocurrency price and trading platform activity tracker, is making changes to the exchange listing policy amid community doubts about the reliability of their trading volumes..
On July 16, the site removed the minimum trading volume requirement it had previously used to limit the number of listed exchanges. According to CMC, this is just one of many measures designed to dispel user doubts..
While the CMC claims to transparently collect trading volume data using the cryptocurrency exchange APIs, it acknowledges that there are several factors that could affect the accuracy of the transmitted data..
These include the new “transaction-based mining” model recently adopted by some cryptocurrency exchanges, offsetting user fees with their own tokens. As noted by CMC, in this way they can inflate their trading volumes, motivating users to trade more actively, including using bots..
CMC also notes that some exchanges charge extremely low fees, which is also reflected in their trading volumes..
Finally, the site acknowledges that some exchanges continue to carry out fictitious transactions or engage in so-called “laundering” trading, resorting to the help of market makers or bots..
Recognizing the “complexity” of the problem, CMC began to develop new tools to filter trading volume data and accommodate differences in commission collection and other variables. In the near future, the site promises to introduce new metrics, including indicators for 7 out of 30 days, which should help in assessing the integrity of the trading volume data..
CMC also monitors the debate in the cryptocurrency space and recently removed from the bitcoin page a link to the Bitcoin.com portal, whose editorial policy is aimed at promoting Bitcoin Cash, not Bitcoin..
In January, CoinMarketCap plunged traders into a panic by excluding data from the South Korean exchanges from the cryptocurrency rates taken into account, which caused an instant collapse of the displayed prices of some assets.
On May 1, the service celebrated its fifth anniversary and released its first official mobile application..
CoinMarketCap triggered a panic sell in the Ripple market by excluding data from exchanges in South Korea According to data from CoinMarketCap, which displays mid-market…
VanEck: All SEC doubts about bitcoin ETFs were answered Interested in creating an exchange traded fund (ETF) pegged to bitcoin,…
Yahoo Finance Users Can Now Trade Bitcoin, Ethereum and Litecoin Yahoo Finance has integrated bitcoin trading,…
KuCoin and Poloniex attract users of the insolvent crypto-exchange FCoin Another blow to the cryptocurrency community was the announcement of…
Users of the Japanese exchange Coincheck withdrew $ 372 million on the day the ban was lifted The Japanese exchange Coincheck announced that it had lifted the temporary ban on withdrawals…