Crypto Data Tracker Wants to Fight Fake Trading Volume
- CoinMarketCap’s new metric shows Binance is the top exchange
- Previous report argued 95% of Bitcoin volumes were fake
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One of the leading data tracking services for cryptocurrencies has come up with a new metric that it says will better reflect real trading activity in an industry notorious for suspect volume figures.
CoinMarketCap’s Liquidity metric went live Tuesday, and will serve as the default barometer for ranking currency pairs and exchanges on the website, it said in a statement. The new metric draws on a wide range of factors such as order sizes and distance from the mid price. Calculations are made by polling the market pair at random intervals over a 24-hour period and averaging the result, which is measured in dollars.