The Blockchain Transparency Institute, or BTI, has published its market data integrity report for 2020. This report found a threefold improvement in the quality of data on veteran crypto rankings site, CoinMarketCap. “Only 31% of the [CoinMarketCap] top 25 is being wash traded compared to over 90% just 1 year ago, a 3x improvement with their new rankings system,” the report states. Research for the report was compiled as part of “BTI Verified,” an initiative launched by BTI to analyze the problem of crypto exchange data being distorted by wash trading. Despite the improvement over the past year, CMC was …

Veteran crypto markets data aggregator CoinMarketCap (CMC) is venturing into new territory — cryptocurrency education. CMC first made its name as a price-tracking website for cryptocurrencies back in 2013 and has remained at the center of ongoing efforts to establish reliable data sources for investors in the industry. Now the site is looking beyond market data and aiming to provide more holistic educational content that can help orient newcomers to crypto. “Cryptocurrency is no longer the niche interest that it once was, but neither is it completely mainstream — it’s somewhere in the middle,” a CoinMarketCap representative told Cointelegraph. The …

The past few months have seen a number of major crypto companies facilitate some serious big-money acquisitions. For example, on Aug. 25, blockchain software firm ConsenSys bought out JP Morgan’s enterprise-variant of the Ethereum blockchain Quorum. Similarly, earlier this year, global cryptocurrency exchange Binance announced that it was acquiring CoinMarketCap, one of the most referenced crypto data websites. In this regard, crypto derivatives exchange FTX, too, announced on Aug. 26 that it had recently come to an agreement with Blockfolio to take over the digital asset portfolio tracker for a total sum of $150 million. But a pertinent question that …

CoinMarketCap’s chief strategy officer and acting CEO Carylyne Chan is leaving the well-known crypto market data site — together with two of her colleagues, Jeremy Seow and Spencer Yang. Chan, who has worked at CMC since January 2018, publicly announced her departure on Aug. 31. She had stepped in as interim CEO shortly after CMC was acquired by Binance in April of this year. Seow, for his part, has been CMC’s vice president of products since June 2019, the same month that Yang joined as vice president of operations, growth and revenue. In an interview with Cointelegraph, Chan said that …

When Bitwise Asset Management declared in a March 2019 presentation to the United States Securities and Exchange Commission that 95% of the Bitcoin (BTC) trading volume being reported globally on cryptocurrency exchanges was “fake,” it jolted rating firms, exchanges and the larger crypto world. Data analytics firms recalibrated their exchange ranking metrics, and some assumed it was just a matter of time before wash trading was curtailed if not eliminated. But wash trading was back in the news last week when the CEO, president and chief operating officer of Canadian crypto exchange Coinsquare were all forced to step down after …

CoinMarketCap listed its parent company’s token Binance Coin at the top of its new DeFi list — and then quickly withdrew it following a barrage of criticism. First noticed by podcaster and Twitter user Yannick Eckl (@cryptonator1337), BNB was ranked higher than other well known decentralized finance tokens such as Maker (MKR), Compound (COMP), and Aave (LEND). Apparently @CoinMarketCap has a #DeFi project ranking now. Guess what is on #1? Right, $BNB! What a coincidence. At this point, everybody has to realize how shameless #Binance is acting pic.twitter.com/GMFBcRRLhO — CR1337 (@cryptonator1337) July 23, 2020 The tweet soon went viral. CEO …

Cryptocurrency ranking resource CoinMarketCap is facing a backlash after listing Chainlink (LINK) as the biggest DeFi token by market cap. The website’s new DeFi section lists what executives consider to be the most important altcoins in the space, which is seeing considerable interest from traders and investors. DeFi: Next week Binance Coin? Speaking to Cointelegraph, CoinMarketCap Head of Research, Gerald Chee, said that it employs “strict methodology” in order to determine if a particular token qualifies as “DeFi” and is therefore eligible for inclusion in its rankings. Chainlink, a smart contract platform, is however an unlikely addition — following the …

Cardano’s ADA recently overtook Litecoin (LTC) in market capitalization. Now it may have passed Bitcoin Satoshi Vision (BSV) as well, depending on how the metric is calculated. BCH, BSV, ADA & LTC. Source: CoinMarketCap. How many ADAs out there? At the time of this writing, CoinMarketCap, or CMC, shows ADA in seventh spot, while Nomics has it at sixth —- just ahead of BSV. The controversy stems from the circulating supply —- CMC reports 25,927,070,538, while Nomics has the figure at 31,112,484,646. This represents a five billion ADA discrepancy. Blockchair, a blockchain search and analytics engine, agrees with Nomics. Nomics …

For reasons of vanity as well as for those of industry health, it’s important to have a good method for ranking crypto exchanges and coins. But as the past few years have shown, no foolproof method has yet been developed. CoinMarketCap has enjoyed the de facto status of being the leading ranking platform, but according to some, a string of controversies has shaken faith in its ability to provide neutral results. CMC’s first flirtation with scandal happened when Bitwise published a report suggesting 95% of the volume reported on the website was fake. The revelation rocked the sector, as many …

Following the latest CoinMarketCap update which introduced the “Confidence factor” to rank exchanges, users are taking issues at perceived injustices against popular platforms. A pseudonymous Twitter user going by the name of Cosmonaut called out CoinMarketCap for placing BitMEX, one of the most popular derivatives exchanges, all the way down at the 175th spot. Such a low position would seem uncharacteristic within CoinMarketCap’s new rankings, where web traffic is one of the primary factors. This update comes after a period of several weeks where exchanges were ranked exclusively by web traffic — which also drew criticism. According to CoinMarketCap, BitMEX …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Forget $10,000, Bitcoin’s $12,000 breakout will catch everyone off guard Once again this week, BTC suddenly soared into five figures — hitting $10,380 soon after Donald Trump mobilized police and the National Guard to disperse protests outside the White House. The surge helped break a long-term descending trendline of $10,250 that had been in place …

Top crypto data aggregator CoinMarketCap (CMC) has introduced yet another algorithm update following its acquisition deal with Binance, according to a CMC blog post published yesterday. The data provider, which was purchased for an unspecified sum by Binance in early April, has started adjusting its ranking system soon after the deal took place. As a result, Binance has come on top of its exchange ranking, drawing criticism from the community and other trading platforms. Latest update brings more metrics to exchange rankings In its latest update, CMC implemented a new algorithm “to replace the previous default ranking of exchanges by …