Altcoin News: 30% of Exchanges Did Not Support the Initiative of CoinMarketCap to Increase the Transparency of the Crypto Market
CoinMarketCap, a popular portal for tracking the movements of the cryptocurrency market, reported on the results of the first phase of the initiative to increase the transparency and reliability of data transmitted by trading platforms.
“The new and detailed criteria for listings will provide clear and concrete guidelines for everyone looking to be listed on CoinMarketCap,” said Carylyne Chan, global head of marketing at CoinMarketCap. “We want to be as exhaustive as possible, eventually listing every qualifying project and exchange on CoinMarketCap!”
The exchanges presented earlier at CoinMarketCap needed to provide the requested information within 45 days — the countdown began on May 1. 70.3% of companies have fulfilled the requirement of CoinMarketCap and will be able to further transmit their data via the tracking portal, as before. The exchanges that ignored the request will be displayed below the trading platforms from the first category in the general list.
Now CoinMarketCap intends to expand “previously concise listing requirements” and add to them a number of new metrics for evaluating projects and exchanges that cover tori volumes, community interest, popularity, team, product relevance in the market, influence, uniqueness and lifetime.
The category of “untraceable listing” will also be added — projects will fall into it, the data of which will not be enough to collect statistics, but which still will want to declare themselves with the help of the service.
In addition, CoinMarketCap for the first time unveiled a delisting policy. According to the statement among other things, it includes “low liquidity or suspicious trading activity, cessation of business, and misleading or deceptive initial applications that were later found out, and unlawful activity”.
Author: Marko Vidrih