“Honest Coinmarketcap” Claims to Provide Accurate Cryptocurrency DataThe crypto monitoring website has stopped short of promising an outright prohibit or downgrade for exchanges that produce intentionally fake quantity, finishing: “Our philosophy is to give as much info as possible to our customers, so they can produce their own decisions and interpretations — and not introduce our own bias within that mix. ” As of today, Bitforex still stands at 15th place on CMC by 24-hour quantity, together with $138 million documented, $37 million over Bitstamp.
Acknowledging that some entities are intentionally gaming the system, CMC proceeds to explain its decision to get rid of minimum quantity requirements for exchanges. What this implies, in practice, is that platforms aren’t required to reach a minimum transaction quantity to be listed on the site. It is estimated this will discourage exchanges from inflating quantity to meet CMC’s entry criteria. The site is also introducing measures like 7-day and 30-day volume metrics that are designed to protect against the likes of Bitforex from gaming the system.
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