Representatives of the popular portal for tracking the movements of the cryptocurrency market CoinMarketCap acknowledged that concerns about the inaccuracy of the transmitted data are without Foundation. In particular, last week the company Bitwise Asset Management, plans to launch a bitcoin ETF, told the Commission at the securities and exchange Commission (SEC) that collect CoinMarketCap data do not allow a true representation of the activity on the cryptocurrency market and 95% of the volume of bitcoin trades are fake.
Head of marketing at CoinMarketCap, Carilyn Chan in a letter to Bloomberg wrote that the portal plans to launch a Suite of new tools aimed at increasing transparency on the crypto-market. Thus, the company intends to integrate the metrics of liquidity, show information about the balance of “cold” and “hot” wallets, and traffic exchanges.
“For example, if obscure the exchange has trading volume of $300 million and only 5 bitcoins in wallet, the user will be able to draw their own conclusions, but we won’t talk about what platform we consider “good” and which are “bad”, she explained. – We want to identify a position that we provide the user with the maximum possible amount of information so he could make conclusions, and do not make their own assessment of this process.”
In July last year in response to complaints of community members CoinMarketCap removed the requirement for a minimum trading volume to include exchanges in its list and began to display indicators for 7 and 30 days, designed to assist users to assess the integrity of the transmitted data trading platforms.
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