CoinMarketCap will change the system of cryptocurrency exchange rankings
The representatives of the resource CoinMarketCap intend to change the system of cryptocurrency exchange rankings after several researches proving an artificial overestimate of trading volumes. The resource CoinMarketCap, tracking the cost of cryptocurrency and the activity of trading platforms, confirmed the coming change on its twitter.
In the middle of the month, an anonymous group of CryptoIntegrity researchers published report, according to which 86% of transactions and 88% of the trading volume on cryptocurrency exchanges are created artificially.
Besides, at the end of last year, the Blockchain Transparency Institute published its annual report on trading volumes of stock exchanges, according to which only two of the TOP-25 sites do not overstate their trading volumes.
Apparently, these researches have influenced the decision of CoinMarketCap. The resource representatives tweeted:
“We listen to the feedback from our users and are working on adding a set of new metrics in order to provide that users can get a more complete picture of the indicators of trading platforms and cryptocurrencies on the site.”
In an interview with Bloomberg, Carylyne Chan, the global head of marketing at CoinMarketCap, explained how the site’s ranking would change in the future.
“For instance, if a low-traffic exchange possesses a volume of $ 300 million and only 5 BTC in its wallet, the users will be able to draw their own conclusions without having to rely on the arbitrary judgments about what is good and what is bad,” Chan explained.
We would like to remind you that last week a new cryptocurrency rating system was also launched at CoinMarketCap.
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