{"id":19926,"date":"2019-06-19T03:48:02","date_gmt":"2019-06-19T03:48:02","guid":{"rendered":"http:\/\/ci027cfe6eb0082697"},"modified":"2019-06-19T03:48:02","modified_gmt":"2019-06-19T03:48:02","slug":"coinmarketcap-transparency-exchanges-complied-with-exchange-data-request","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/coinmarketcap-transparency-exchanges-complied-with-exchange-data-request","title":{"rendered":"CoinMarketCap Transparency: 70 Percent of Exchanges Complied With Exchange Data Request"},"content":{"rendered":"
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Leading cryptocurrency data provider CoinMarketCap has announced<\/a> that 70.3 percent of the exchanges listed on its platform have complied with its mandatory exchange data requests aimed at boosting transparency in trade volume reporting.<\/p>\n

95 percent of the trade volumes reported by CoinMarketCap were fake according to a report released in April 2019 by Bitwise Asset Management<\/a>. It suggested that CoinMarketCap reported approximately $6 billion per day in bitcoin trading volume at the time, whereas the actual figure was $273 million, or about 4.5 percent of the reported amount.<\/p>\n

Following the allegation, CoinMarketCap formed an alliance with major cryptocurrency exchanges to work toward more transparent and reliable trade volume reporting. The alliance, dubbed the Data Accountability & Transparency Alliance (DATA)<\/a>, includes significant cryptocurrency exchanges like Binance, Bittrex, OKEx, Huobi, Liquid, Upbit, KuCoin, HitBTC, Gate.io, OceanEx and Bitfinex.<\/p>\n

CoinMarketCap subsequently gave all listed exchanges 45 days to provide live trading data and orderbook data or risk being removed from the platform\u2019s adjusted volume calculations.<\/p>\n

The exchanges that have complied with CoinMarketCap\u2019s stated requirements will continue to be listed on the crypto-data platform.<\/p>\n

The company also plans to implement more stringent criteria for listing exchanges on its platform, including factors such as trading volume, community interest, traction, team, product-market fit, impact, uniqueness and time in market.<\/p>\n

The global marketing head at CoinMarketCap, Carylyne Chan<\/a>, expressed satisfaction with the work of the DATA initiative. Chan stated that the new criteria would ensure that only worthy, reliable exchanges were listed on the platform.<\/p>\n

\u201cWe want to be as exhaustive as possible, eventually listing every qualifying project and exchange on CoinMarketCap,\u201d she noted, per the announcement.<\/p>\n

For exchanges that do not make the cut, there will be an \u201cuntracked listing\u201d category, where platforms that do not meet the requirements can still appear on the website.<\/p>\n","protected":false},"excerpt":{"rendered":"

CoinMarketCap has announced that 70 percent of exchanges listed on its platform have provided exchange data around trading volume to improve transparency.<\/p>\n","protected":false},"author":3435,"featured_media":19927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[826,1547,357,1837,1729],"class_list":{"0":"post-19926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-binance","9":"tag-bittrex","10":"tag-exchanges","11":"tag-huobi","12":"tag-okx"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/exchange-data.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/19926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=19926"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/19926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/19927"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=19926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=19926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=19926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}