Published on July 20th, 2018 | by bitcoin0
CoinMarketap declares Alterations to Counter Fake Volume Concerns
The popular crypto data tracker CoinMarketCap is instituting changes in light of what it called “concerns” over fake volume figures.
The announcement followed a post on CryptoExchangeRankings, which tackled the question of how relatively new exchanges were able to move up CMC’s volume rankings.
“The issue of fake volumes on crypto exchanges is like a UFO: some people claim to witness it but there is no evidence and metrics to prove its existence,” the blog wrote.
The evolution of new models such as transaction mining also means that there needs to be new ways to account for volume.
That being said, she wrote, “we understand that these concerns are valid and have implications on the community and the impressions that people have about exchanges, even more than we are traditionally used to.”