CoinMarketCap To Change Listing Mechanism Of Crypto Exchanges
The analytic cryptocurrency platform CoinMarketCap announced on Twitter its plans to change the crypto exchanges ranking policy after research proved the platform provides incorrect data on trading volumes.
Last week, the study by the Bitwise project showed that the majority of trading volume indicators listed by CoinMarketCap do not correspond to reality. The researchers accused the platform of deliberately deceiving investors. The Bitwise project submitted the results for US financial regulators’ consideration as a part of an application for the ETF project launch.
CoinMarketCap representatives said on Twitter that they do their best to add new market analysis tools so that users get more accurate and complete information on cryptocurrency exchanges and the state of the digital assets market.
According to the head of the marketing department at CoinMarketCap, Carylyne Chan, users can independently draw conclusions regarding trading volumes of cryptocurrency exchanges, basing on various data, such as balances or traffic levels. However, Chan did not reveal the exact date when the changes are to be introduced to the platform.
Earlier, CoinMarketCap attracted the attention of the cryptocurrency community after The Tie began the study of indicators of popular cryptocurrency exchanges.
As previously reported, the trading platforms Nasdaq, Bloomberg Terminal, Reuters and others intend to introduce CoinMarketCap cryptocurrency indices.